Danakali Limited (OTCMKTS: SBMSF) is an Australian-based mineral development company focused on the production of sulphate of potash (SOP), a premium fertiliser used to improve crop yields and soil health. The company’s principal asset is the Colluli Potash Project in the Danakil Depression of Eritrea, one of the world’s largest and highest‐grade undeveloped potash resources. With a clearly defined resource base and a scalable production model, Danakali aims to meet growing global demand for chloride‐free fertiliser.
The Colluli Project lies on a salt-rich, hydrogeological basin near Eritrea’s northeastern border, where sub-surface brines are extracted and processed through solar evaporation. Potash‐rich salts precipitate into a mixed salt product that is further refined into SOP. A positive pre-feasibility study completed in 2017 demonstrated robust project economics, and subsequent engineering studies have advanced the project toward final investment decision. Danakali has secured key permits and is working toward securing debt and equity financing to commence construction.
Danakali operates the Colluli Potash Project through a joint venture with the Eritrean National Mining Company (ENAMCO), holding a 60% interest. ENAMCO retains the remaining 40% interest, ensuring local government participation and alignment with national development goals. The project’s strategic location near emerging markets in Africa, the Middle East and South Asia presents opportunities to supply regional agricultural industries with lower‐chloride fertiliser, enhancing the competitiveness of Eritrea’s mining sector.
Headquartered in Adelaide, South Australia, Danakali is led by an experienced management team under the guidance of Chief Executive Officer Mark Wellham and Executive Chairman David Simpson. The board and executive team bring extensive expertise in mining finance, project development and international joint ventures. Danakali is committed to sustainable development practices, community engagement in Eritrea and delivering long‐term shareholder value through the advancement of the Colluli Project.
AI Generated. May Contain Errors.
Free SBMSF Stock Alerts