DJ Danakali: Eritrea Approves Mine Development at Colluli
By Adria Calatayud
Danakali Ltd. Wednesday said that Eritrea's government has accepted a notice of commencement of mine development for its Colluli sulphate of potash project, bringing the project a step closer to financial close.
The potash mining company, which is listed in the U.K. and Australia, said acceptance of the notice was one of the conditions precedent to the financing for the Colluli project.
The Eritrean Ministry of Energy and Mines has given until mid-December 2022 to start commercial production, and has consented to security and account structure for the financing for the Colluli project, Danakali said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 22, 2020 04:22 ET (08:22 GMT)
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