Yara ink mining agreement Ethiopian Dallol mine

Yara to ink mining agreement for Ethiopian Dallol mine

7:58 AM, 7th November 2017
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OSLO, NORWAY: Yara International ASA said that it will sign a mining agreement with the Ethiopian authorities, making possible the future development of the Yara Dallol potash mine.

The mining agreement will be signed by Ethiopian minister of the ministry of mines, petroleum and natural gas, HE Ato Motuma Mekasa, and Yara International president and CEO, Svein Tore Holsether.

Yara Dallol is a mining project located in the Afar region in the northern part of Ethiopia. During the feasibility studies carried out over the recent years, significant reserves of natural resources used for the production of sulphur of potash (SOP) have been identified in the allocated exploration area. SOP is a premium fertilizer product especially beneficial for fruit, vegetable and coffee crops.

The planned Yara Dallol mine will have a production capacity of approximately 600,000 tonnes of SOP per year, equivalent to approximately ten percent of the global market. The products will be mined using solution mining, meaning there will be no open pit at the site.

Yara Dallol is a 51.8 percent Yara International owned company. The other owners are Liberty Metals and Mining Holdings (25 percent) and XLR Capital (23.2 percent). A final investment decision is expected towards the end of 2018.

"We are glad to achieve this key milestone in the Dallol mining project. A mine in the Afar region would contribute significantly to economic development locally and nationally. We recognize and appreciate the efforts made by the Ethiopian government in supporting the project, both by providing necessary infrastructure and through making the mining agreement possible," said Svein Tore Holsether

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