Potash

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Danakali Ltd. (ASX:DNK) announced the formal submission of the Colluli Potash Project Definitive Feasibility Study to the Eritrean Ministry of Energy and Mines. This represents the first step in the mining approvals process.

Danakali Ltd. (ASX:DNK) announced the formal submission of the Colluli Potash Project Definitive Feasibility Study to the Eritrean Ministry of Energy and Mines. This represents the first step in the mining approvals process.
As quoted in the press release:

Highlights

  • First step of mining approvals process completed with the formal submission of DFS documents to the Eritrean Ministry of Energy and Mines
  • Post DFS stakeholder engagements completed in local communities
  • Social and Environmental Impact Assessments and Management Plans currently being finalised for submission in April 2016

The DFS was completed and compiled by industry recognized engineering, mining and environmental service providers. The submission of the DFS documentation to the MoEM allows the commencement of an independent due diligence exercise on the project by the MoEM, which is a key component of the mining approvals process within the jurisdiction.
Over the past two weeks, post DFS stakeholder engagements have been held with representatives and members of communities proximate to the Project and transportation route. The results of these engagements will be integrated with the social and environmental impact assessments and management plans, which are being conducted according to the Equator Principles. The Equator Principles are a risk management framework adopted by financial institutions for determining, assessing and managing environmental and social risk in projects. The engagements revealed overwhelmingly positive support for the project.
Upon integration of the final stakeholder engagements, the SEIA and SEMP will be submitted and, along with the DFS, will allow the mining application to be submitted.

Danakali Managing Director, Paul Donaldson, stated:

We are delighted to have formally submitted the Colluli DFS to the Ministry of Energy and Mines. The initiation of the approvals process symbolises the commencement of the next chapter of the project following the completion of the positive DFS. We now look forward to completing and submitting the SEIA and SEMP to accompany the project study documents following a very successful and supportive series of stakeholder engagements. The stakeholder engagement following the completion of the DFS is an important step in involving those impacted most by the Colluli development in the project development path. We look forward to building on the positive relationships that have been formed with the local communities and other stakeholders over the past few years as we continue to advance the project.

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