TIDMDNK
RNS Number : 8175Y
Danakali Limited
14 September 2020
Announcement Monday, 14 September 2020
============= ==========================
Danakali presenting at Africa Fertilizer Agribusiness
Conference
Danakali Limited (ASX: DNK, LSE: DNK, Danakali, or the Company)
is pleased to announce that the Company CEO Niels Wage will be
presenting at the Africa Fertilizer Agribusiness 2020 Virtual
Conference on 15 September 2020 at 2pm BST / 3pm SAST.
Niels Wage will present at the "Investing in African fertilizer
production and distribution" panel, and will be joined by industry
experts to discuss how can African nations take advantage of their
natural resources to support agribusiness and rural development,
and the importance of maintaining sustainability considerations
while developing fertilizer input resources. The panel will see
fertilizer experts talk about the routes to fertilizer market and
how marketing strategies can ensure success in different African
markets.
Danakali's presentation will be available on the Company's
website .
No new information will be provided during the event.
Announcement authorised for release by the Chief Executive
Officer of Danakali.
F or more information, please contact:
Danakali
Niels Wage Mark Riseley
Chief Executive Officer Corporate Development Manager
+61 8 6189 8635 +61 8 6189 8635
Corporate Broker - Canaccord UK IR/PR - Instinctif Partners
James Asensio / Angelos Vlatakis Mark Garraway / Dinara Shikhametova
+44 (0)20 7523 4680 / Sarah Hourahane
danakali@instinctif.com
+44 (0)207 457 2020
Visit the Company's website: www.danakali.com
Follow Danakali on LinkedIn:
www.linkedin.com/company/danakali-limited
Subscribe to Danakali on YouTube:
www.youtube.com/channel/UChGKN4-M4lOvPKxs9b-IJvw
About Danakali
Danakali Limited (ASX: DNK, LSE: DNK) (Danakali, or the Company)
is an ASX- and LSE-listed potash company focused on the development
of the Colluli Sulphate of Potash Project (Colluli or the Project).
The Project is 100% owned by the Colluli Mining Share Company
(CMSC), a 50:50 joint venture between Danakali and the Eritrean
National Mining Corporation (ENAMCO).
The Project is located in the Danakil Depression region of
Eritrea, East Africa, and is 75km from the Red Sea coast, making it
one of the most accessible potash deposits globally. Mineralisation
within the Colluli resource commences at just 16m, making it the
world's shallowest known potash deposit. The resource is amenable
to open cut mining, which allows higher overall resource recovery
to be achieved, is generally safer than underground mining, and is
highly advantageous for modular growth.
The Company has completed a Front End Engineering Design (FEED)
for the production of potassium sulphate, otherwise known as
Sulphate of Potash or SOP. SOP is a chloride free, specialty
fertiliser which carries a substantial price premium relative to
the more common potash type; potassium chloride (or MOP). Economic
resources for production of SOP are geologically scarce. The unique
composition of the Colluli resource favours low energy input, high
potassium yield conversion to SOP using commercially proven
technology. One of the key advantages of the resource is that the
salts are present in solid form (in contrast with production of SOP
from brines) which reduces infrastructure costs and substantially
reduces the time required to achieve full production capacity.
The resource is favourably positioned to supply the world's
fastest growing markets. A binding take-or-pay offtake agreement
has been confirmed with EuroChem Trading GmbH (EuroChem) for up to
100% (minimum 87%) of Colluli Module I SOP production.
Development Finance Institutions, Africa Finance Corporation
(AFC) and African Export Import Bank (Afreximbank), have obtained
formal credit approval to provide CMSC with US$200M in senior debt
finance. The credit documentation was executed in December 2019,
allowing drawdown of CMSC senior debt on satisfaction of customary
conditions precedent. This represents the majority of funding
required for the development and construction of the Colluli. AFC
has also executed a Subscription Agreement to make a US$50M
strategic equity investment in Danakali. The receipt of the first
tranche of US$21.5M (A$31.8M) allowed commencement of the
development.
Project execution has commenced, and SOP production is expected
during 2022. The Company's vision is to bring Colluli into
production using the principles of risk management, resource
utilisation and modularity, using the starting module (Module I) as
a growth platform to develop the resource to its full
potential.
Disclaimer
The information in this document is published to inform you
about Danakali and its activities. Danakali has endeavoured to
ensure that the information enclosed is accurate at the time of
release, and that it accurately reflects the Company ' s
intentions. To the extent permitted by law, the Company accepts no
responsibility or liability for any losses or damages of any kind
arising out of the use of any information contained in this
document. Recipients should make their own enquiries in relation to
any investment decisions.
No representation or warranty, express or implied, is or will be
made by or on behalf of the Company, and no responsibility or
liability is or will be accepted by the Company or its affiliates,
as to the accuracy, completeness or verification of the information
set out in this announcement, and nothing contained in this
announcement is, or shall be relied upon as, a promise or
representation in this respect, whether as to the past or the
future. The Company and each of its affiliates accordingly
disclaims, to the fullest extent permitted by law, all and any
liability whether arising in tort, contract or otherwise which it
might otherwise have in respect of this announcement or any such
statement.
The distribution of this announcement outside the United Kingdom
may be restricted by law and therefore any persons outside the
United Kingdom into whose possession this announcement comes should
inform themselves about and observe any such restrictions in
connection with the distribution of this announcement. Any failure
to comply with such restrictions may constitute a violation of the
securities laws of any jurisdiction outside the United Kingdom.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCSFUSMEESSEIU
(END) Dow Jones Newswires
September 14, 2020 02:00 ET (06:00 GMT)
Danakali (LSE:DNK)
Historical Stock Chart
From Apr 2024 to May 2024
Danakali (LSE:DNK)
Historical Stock Chart
From May 2023 to May 2024