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Danakali delivers first development phase on time and budget

The company is on track with developing the world-class Colluli Potash Project in Eritrea.

Danakali Ltd - Danakali delivers first development phase on time and budget
There are six phases, which plan to take Danakali into production in 2022

Danakali Ltd (ASX:DNK) has successfully executed EPCM Phase 1 of the Colluli Sulphate of Potash (SOP) Project development and has now moved to Phase 2.

Phase 1 was delivered on schedule, on budget and in line with the front-end engineering design (FEED).

This takes the Colluli Project closer to the construction phase before progressing into planned production in 2022.

Work now involves securing key mining services agreements, optimising the execution strategy and updating the FEED estimate and execution schedule.

Several optimisation and cost-saving opportunities identified

Danakali’s project director Tony Harrington said: "It has been a busy start to the year with a number of work streams being progressed.

“It is encouraging to see a collaborative team providing a strong professional approach, that is experienced and understands the importance of delivering a fit for purpose process plant with a shared objective to achieve the shortest path to revenue.

“The FEED pricing reconfirmation is underway, and we are pleased to have identified several optimisation and cost saving opportunities which we are incorporating in further planning.

“We have now commenced Phase 2 of the Project development allowing us to further de-risk the development by greater definition of cost, schedule and design.”

The project is held by Colluli Mining Share Company (CMSC) which is 50%-owned by Danakali.

Quick facts: Danakali Ltd

Price: 0.36 AUD

ASX:DNK
Market: ASX
Market Cap: $114.75 m
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