Yara International is to increase its investment in the Ethiopian potash sector increasing ownership in Ethio-potash BV from 
16.67% to 51%.
Yara had entered into an agreement with two partners to invest in 16.67% of Ethio-potash. The other partners were Seftec with 26% share and XLR with a 57.33% share and management of the company in 2009.
XLR will retain a 49% share while Yara will take over the management of the company with its 51% share.
Ethio-potash is developing a potash concession in Dallol in the Dankil Depression as per the mining and exploration permits of the company. The company began drilling activity in 2010 and has now completed drilling related activities.It is expected that the project development phase will be completed by the middle of next year with a Definitive Bankable Feasibility Study which will be the basis for a decision to proceed with the execution and realization of the project.
The potential capacity of the Dallol project is estimated at 1-1.5 million tons of potash annually with resources for more than 30 years.
Source: Reuters
