Yara study confirms potash mining potential in Ethiopia
(Thomson Reuters ONE) -
Oslo, 13 February 2015: A feasibility study, carried out on behalf of Yara
International confirms significant potential to extract potash in the Danakil
depression in northeastern Ethiopia.
The independent study identified an annual production of 600,000 metric tons
sulfate of potash (SOP) over 23 years from reserves (Kainite, Carnallite and
Sylvinite) at Yara's Danakil concession. The company, which aims to begin mining
activities in 3Q, 2018, is now seeking equity partners to develop the project.
The reserves will be mined using solution mining technology. The brine produced
at the mining sites will be evaporated utilizing high solar radiation. The
harvested salts will be processed and re-crystalized to SOP. Both standard and
compacted SOP will be produced.
The product will be trucked 790km to Tadjoura, Djibouti, where the project
includes a product storage and handling terminal at the new port currently under
construction by the Djibouti Port Authority.
Capital expenditure of the project is estimated at USD 740 million, while
operating expenditure is expected to amount to USD 167/metric ton FOB Djibouti.
The combination of a unique geological structure and an extreme climate in the
Danakil depression required adjustments in the production process. Yara
developed new technologies to fully utilize the local advantages.
Yara's Danakil mining project has received the backing of the Ethiopian
government, which has committed to providing electric power by building a 130km
long power line. The government will also construct a new lowland transportation
road to support mining operations. Sustainable water availability has been
confirmed through a water exploration campaign, while an environmental and
social impact assessment study confirms that the future activities comply with
Ethiopian environmental legislation and international guidelines and standards.
For further information, please contact:
Anders Lerstad, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 93 42 69 54
E-mail: anders.lerstad(at)yara.com
Esben Tuman, Media Relations
Cellular: (+47) 90 50 84 00
E-mail: esben.tuman(at)yara.com
Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via GlobeNewswire
[HUG#1894170]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 371508
Anzahl Zeichen: 3580
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara study confirms potash mining potential in Ethiopia"
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