Danakali Ltd. , is pleased to announce that the Colluli Mining Share Company has issued a Notice to Proceed to DRA Global , the preferred provider of Engineering, Procurement and Construction Management services for the Colluli Sulphate of Potash Project . The Notice to Proceed is an interim agreement that allows DRA and CMSC to commence the EPCM process. Further, the Colluli Mining Share Company Board has resolved to [...]
Danakali Ltd. is pleased to announce that it has entered into a Subscription Agreement with Africa Finance Corporation for a placement of fully paid ordinary shares to raise US$50M . The Placement will be part of the overall funding package used for the development and construction of the Colluli Sulphate of Potash Project in the Danakil Depression region of Eritrea, East Africa. Colluli is fully permitted and [...]
Danakali Ltd. is pleased to announce that Africa Finance Corporation and African Export Import Bank , have obtained formal credit approval to provide the Colluli Mining Share Company with US$200M in senior debt finance . The Facility will be part of the overall project funding package used for development and construction of the Colluli Potash Project in the Danakil Depression region of Eritrea, East Africa. Credit [...]
Danakali Ltd. , on behalf of Colluli Mining Share Company , is pleased to announce that a binding take-or-pay offtake agreement has been reached with EuroChem Trading GmbH for up to 100% of Module I Sulphate of Potash production from the Colluli Potash Project . The Project, located in Eritrea, East Africa, is 100% owned by CMSC, a 50:50 joint venture between Danakali and the Eritrean National Mining Corporation [...]
East Africa focused potash company South Boulder Mines has announced Pre-feasibility Study results that show its flagship Colluli potash project could become one of the lowest-cost, and most significant, potassium sulphate operations in the world.Operations will focus on the production of high quality potassium sulphate which commands a price premium over the more common potassium chloride product. It is also the [...]
East Africa focused emerging potash company South Boulder Mines is on the development path at its Colluli Potash Project in southern Eritrea, East Africa, where the company's work on a pre-feasibility study is well advanced. The Perth-based, ASX-listed company's project hosts a large, high grade potassium bearing resource close to surface, in close proximity to the Eritrean coast and geographically favourable [...]
South Boulder Mines CEO and MD Lorry Hughes Speaks with ABN Newswire's CEO Tim Mckinnon at Hard Assets New York 2012. Mr Lorry Hughes BSc. MAusIMM, is a Geologist with 20 years industry experience and has been South Boulder Mines' CEO and Managing Director since 2008. Mr Hughes has held senior management positions on exploration and operational mining projects for Energy Metals Ltd, CSA Australia Ltd and Energy Resources [...]
South Boulder is pleased to announce the appointment of Azure Capital as corporate advisor. Azure's primary role will be to assist with the evaluation of the Colluli Potash Project in respect of the paid participation interest of the Eritrean Government through the Eritrean National Mining referred to in South Boulder's ASX release dated 26th March 2012. The assignment will involve the negotiation and execution of a sale [...]
South Boulder Mines is very pleased to announce that the Eritrean Government through the Eritrean National Mining has requested that South Boulder submit a proposal to commence discussions regarding ENAMCO's intention to acquire up to a 30% paid participating interest in the Colluli Potash Project. This 30% interest is in addition to ENAMCO's existing 10% interest which is to be carried 3.3% by ENAMCO and 6.7% by South [...]
South Boulder Mines Ltd is pleased to announce that Diamond and RC resource definition and extension drilling has recommenced at the Duketon Nickel Joint Venture (DNJV) located ~120km NNW of Laverton in Western Australia. Independence Group NL is earning 70% of the nickel rights by sole funding exploration and development through to the completion of a Bankable Feasibility Study (BFS) within 5 years of the grant of the [...]
South Boulder Mines is pleased to announce that it has entered into a joint venture agreement with TSX listed Strata Mineral on the non-core Cardabia Phosphate Project in Western Australia. South Boulder has received $200,000 in cash and Strata has been granted TSX Venture approval on the 13th February 2012 for the Cardabia transaction. 2.5 million fully paid Strata shares will be allotted and in return Strata has [...]
South Boulder Mines is pleased to provide a quarterly report for the period ended 31 December 2011. A detailed engineering scoping study (ESS) for the Colluli Potash Deposit was completed generating highly favourable technical and financial results;
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