Eritrea and Colluli Mining Company Sign Agreement
Eritrea’s Ministry of Energy and Mines and Colluli Mining Share Company yesterday signed an agreement to engage in potash mining operations in the Bada area of the Northern Red Sea Region.
The agreement was signed by Minister of Energy and Mines, Gen. Sebhat Ephrem, Minister of Finance, Mr. Berhane Habtemariam, representing the Eritrean National Mining Company (ENAMCO), and Seamus Cornelius, Chairman of the Australia-based Danakali Mining Company.
Gen. Sebhat Ephrem commended Colluli Mining Share Company for its unwavering determination to partake in mining operations in Eritrea and affirmed that the Government of Eritrea and the Ministry would extend strong support in all its activities.
Seamus Cornelius praised the strong support given to the project by the Eritrean government. He also expressed his desire for the company to engage in operations that serve the interests of all parties to the agreement.
Mr. Alem Kibreab, Director General of the Mining Department at the Ministry of Energy and Mines, underlined that proximity to sea routes and shallowness of potash deposits—sitting at the depth of only 16 meters—gives the project unique commercial advantage relative to other projects.
Colluli Mining Share Company is jointly owned by ENAMCO and the Danakali Mining Company.