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 have a substantial positive impact on 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
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.
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).
In June 2018, Danakali reached a binding take-or-pay offtake agreement with EuroChem Trading GmbH (EuroChem). Under the terms of the agreement, EuroChem will take, pay, market, and distribute up to 100% of the Colluli site’s SOP fertilizer production over a 10-year term, from the project’s date of commissioning. The agreement can be further extended by three years, if mutually agreed upon.
Following the agreement, the Colluli’s position as the most advanced and economically attractive SOP greenfield development project has been reinforced given that EuroChem is an outstanding partner with global reach and extensive fertiliser capabilities. The agreement he encourages the maximisation of netback pricing of SOP produced in the Colluli which will become first Africa-based provider of fertilizer in supply chain of EuroChem.
The announcement can be found here