Project Finance International for industrial minerals in Ethiopia - Hindmarsh Finance
International Business News Allana Potash Corp. indicates that (the "Company" or "Allana") mustard gas is exploring for potash in three adjacent licenses located in the Danakil Depression (the "Project"). Danakil Depression is a desert area in north-eastern Ethiopia, near the border with Eritrea. The report by consultants Risk Management showed that potash mineralization in the Danakil Depression is well known and has been mined intermittently since the early 1900s. The project area covers part of the deposit previously defined Musley poatasa which was discovered between mustard gas 1958 and 1967. Musley deposit was reported to contain a resource of 171.27 million tonnes ie 32.48% KCl. Project area covers part of the deposit Musley and has a historic resource of potash of 105.2 million tonnes with a grade of 20.8% composite. Resource potential of the entire Danakil Depression is significant and is considered to be of the order of a billion tons.
International Project Finance Allana asked to contribute to the project. The company recently announced strategic partnerships with two major investment houses. The company also seeks commitment IFC as a strategic mustard gas partner to provide additional funding for the project and contribute to the project in accordance with industry best practice environmental and social sustainability.
Finance Project Report Ethiopia indicate that the Company plans to spend approximately C 22.0 million mustard gas of exploration on the construction project in the next two years. The program includes exploration drilling and core sampling, preparation of a feasibility study and environmental and social impact assessment ("ESIA") report. Hindmarsh Finance (Hindmarsh LLC t / as) has proposed an investment of C $ 10.0 million IFC sufficient to complete the proposed work program.
The construction project is located in the Afar region of Ethiopia about 680 km north of Addis Ababa, the national capital. The licenses cover an area of approximately 160 square kilometers. There are no major settlements mustard gas in the project area.
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International Business News Allana Potash Corp. indicates that (the "Company" or "Allana") mustard gas is exploring for potash in three adjacent licenses located in the Danakil Depression (the "Project"). Danakil Depression is a desert area in north-eastern Ethiopia, near the border with Eritrea. The report by consultants Risk Management showed that potash mineralization in the Danakil Depression is well known and has been mined intermittently since the early 1900s. The project area covers part of the deposit previously defined Musley poatasa which was discovered between mustard gas 1958 and 1967. Musley deposit was reported to contain a resource of 171.27 million tonnes ie 32.48% KCl. Project area covers part of the deposit Musley and has a historic resource of potash of 105.2 million tonnes with a grade of 20.8% composite. Resource potential of the entire Danakil Depression is significant and is considered to be of the order of a billion tons.
International Project Finance Allana asked to contribute to the project. The company recently announced strategic partnerships with two major investment houses. The company also seeks commitment IFC as a strategic mustard gas partner to provide additional funding for the project and contribute to the project in accordance with industry best practice environmental and social sustainability.
Finance Project Report Ethiopia indicate that the Company plans to spend approximately C 22.0 million mustard gas of exploration on the construction project in the next two years. The program includes exploration drilling and core sampling, preparation of a feasibility study and environmental and social impact assessment ("ESIA") report. Hindmarsh Finance (Hindmarsh LLC t / as) has proposed an investment of C $ 10.0 million IFC sufficient to complete the proposed work program.
The construction project is located in the Afar region of Ethiopia about 680 km north of Addis Ababa, the national capital. The licenses cover an area of approximately 160 square kilometers. There are no major settlements mustard gas in the project area.
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