Danakali - Mining Agreement and Licenses granted for Colluli project in Eritrea
Danakali (ASX:DNK) advises that the Colluli Mining Share Company has been awarded Mining Licenses for exploitation of resources within the Colluli tenements. This follows the signing of a Mining Agreement with the Eritrean Ministry of Energy and Mines. The Mining Agreement provides exclusive access to CMSC over the 1.3 billon tonne Colluli potassium resource and associated minerals, while seven mining licenses were awarded which cover 60km2 and represent 60 years of the 200-year mine life.
Danakali Limited (ASX:DNK) is pleased to advise that the Colluli Mining Share Company (“CMSC”) has been awarded Mining Licenses for the exploitation of mineral resources within the Colluli tenements. This follows the signing of a Mining Agreement between CMSC and the Eritrean Ministry of Energy and Mines.
The Mining Agreement provides exclusive access to CMSC over the 1.3 billon tonne Colluli JORC-2012 compliant potassium resource and associated minerals. CMSC applied for, and were awarded seven mining licenses which span over 60km2 of the 100km2 Agreement area, and represent over 60 years of the 200-year mine life determined in the definitive feasibility study1 (“DFS”). Additional licenses can be applied for within the Agreement area as required to sustain and/or grow operations.
To view the full Mining Licenses announcement, please click here.
To view the full Mining Agreement announcement, please click here.
