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UNDP Report

A report prepared by independent consultants that was initiated and funded by the United Nations Development Programme (UNDP) on the potential contributions of Colluli to Eritrea’s Sustainable Development Goals has been released (the Report).

 

The Report was undertaken during 2018 by senior economists on behalf of the UNDP. It assesses a wide range of econometric data and includes findings from engagements with Eritrean government officials, relevant public institutions and other Colluli stakeholders. 

 

The Report concludes that Colluli has the potential to significantly boost the Eritrean economy and provide a significant positive boost to the Sustainable Development Agenda of Eritrea.

 

A link to the report can be found here: Analysis of the Potential Contributions of Colluli Potash Project to Sustainable Development Goals in Eritrea

 

Danakali and its Board take no responsibility for the content of the Report, nor does the Company or its Board endorse or warrant the accuracy of any content of the Report.

Anti-Bribery and Corruption

Danakali is committed to acting fairly, ethically and with integrity in all territories in which we do business.

The policy of Danakali is not to engage in or tolerate bribery in any form within our organisation or within organisations that we do business with.

Danakali strives to comply with all applicable anti-bribery laws in the countries where Danakali operates. This includes complying with the UK Bribery Act 2010.

Danakali has introduced a formal Anti-Bribery Policy, taking into account anti-bribery laws which may be applicable to Danakali in various jurisdictions worldwide.

All officers and staff are required to comply with the Anti-Bribery Policy and, where practicable, we expect all third parties whom we engage to do business on our behalf to take account of our Anti-Bribery Policy and to act in accordance with its provisions when carrying out work on our behalf.

Seamus Cornelius, Executive Chairman

24 July 2018

LSE listing

Danakali has been admitted to the Standard Segment of the Official List of the Financial Conduct Authority (FCA) (Admission) and to trading on the London Stock Exchange (LSE) Main Market with the ticker DNK. Admission and trading in the Ordinary Shares commenced at 8.00am BST on 24 July 2018. The Ordinary Shares trade through a Depositary Interest (DI) structure on the LSE. The Company’s Ordinary Shares remain listed on the Australian Stock Exchange (ASX).

The LSE listing Prospectus dated 18 July 2018 was approved by the UK Listing Authority. The Prospectus specifically relates to the admission of the Company's Ordinary Shares to the Standard Segment of the Official List of the Financial Conduct Authority and trading on the London Stock Exchange's Main Market. The Prospectus can be found here.

Other LSE listing announcements:

  • LSE listing approaches completion
  • Publication of Prospectus
  • LSE listing investor presentation
  • Admission to trading on the London Stock Exchange
  • A LSE listing Frequently Asked Questions document has been developed and can be found here.

    A video of the Company's LSE listing ceremony can be found here.

    Offtake

    A binding take-or-pay offtake agreement has been reached with EuroChem Trading GmbH (EuroChem) for up to 100% of Module I Sulphate of Potash (SOP) production from the Colluli Potash Project (the Agreement).

    • EuroChem will take, pay, market and distribute up to 100% of Colluli Module I SOP production
    • 10 year term, with an option, if mutually agreed, to extend for a further 3 years
    • EuroChem is an outstanding partner with global reach and extensive fertiliser capabilities
    • Reinforces Colluli’s position as the most advanced and economically attractive SOP greenfield development project
    • Critical milestone for project funding processes

    The announcement can be found here

    Products


    The potassium bearing salts within the Colluli Resource have the unique capability of producing a diverse range of potash types including sulphate of potash (SOP or potassium sulphate), muriate of potash (MOP or potassium chloride) and sulphate of potash magnesia (SOPM or potassium magnesium sulphate).

    Substantial upside for the project exists from the exploitation of other contained products within the resource such as high purity rock salt and magnesium chloride and other identified minerals within the project license such as gypsum (Calcium Sulphate).

    The product, detailed below, have been generated exclusively from potash salts extracted from the Colluli Resource in Eritrea, East Africa and demonstrates Colluli’s favourable salt combination to simply and economically produce high purity SOP.

    Approximately 4 tonnes of Colluli drill core material have been processed at the Saskatchewan Research Council (SRC) in Canada for specific bench testing and pilot plant trials to produce SOP, which was delivered in soluble, standard and granular forms. Over 100kg of Colluli product was tested at Ludman Industries in the USA for product compaction behaviour. Materials handling trials have also been completed to determine the anti-caking requirements for the final SOP product. These repeated tests have produced the following product type specifications:

    Sulphate of Potash (SOP)

    SOP is a low chloride, premium fertiliser applied primarily on high value crops, usually leafy plants, which include some fruits and vegetables. It is the second most common potash type.

    Sulphate of Potash Magnesium (SOPM)

    SOPM is a low chloride, premium fertiliser applied primarily on high value crops, usually leafy plants, which include some fruits and vegetables. It provides a source of magnesium along with potassium and sulphur.

    Rock Salt

    Industrial rock salt is most commonly used as a gritting application for the management of ice and snow. It is indispensable for ensuring safety in winter road conditions.
     

    LATEST ANNOUNCEMENTS

    • Company update from Danakali CEO

      Monday, 26 August 2019

    • Issue of shares s708A notice

      Monday, 12 August 2019