Danakali Ltd. (ASX:DNK; OTC:DNKLY) announced that an Impact Review Committee will visit the Colluli Potash Project site on 24 June 2016.
Danakali Ltd. (ASX:DNK; OTC:DNKLY) announced that an Impact Review Committee will visit the Colluli Potash Project site on 24 June 2016. The IRC was appointed by the Eritrean Ministry of Land, Water and Environment to evaluate the social, environmental impact assessment and associated management plans for Colluli.
As quoted in the press release:
This is a critical step in the Mining License approval process. The IRC will travel to both site and the nominated water intake and treatment area on the coast. The purpose of the visit is to conduct a field assessment and reconcile the information contained in the social, environmental impact assessments. The delegation will include representatives from the Ministry of Public Works, Ministry of Labour and Human Welfare, Ministry of Agriculture, and the Ministry of Land, Water and Environment.
The Colluli Definitive Feasibility Study (“DFS”) was completed in November 2015, and Danakali is currently working with the relevant ministries to gain approval for a mining license. Funding discussions are underway and the company has signed memorandums of understanding for 800,000 tonnes of sulphate of potash per annum. The DFS indicates industry leading capital intensity, bottom quartile operating costs and an ore reserve of 1.1 billion tonnes.
Danakali Managing Director, Paul Donaldson stated:
We are very happy that the approvals process is progressing and to be hosting the visit of the relevant Ministries.
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