Allana Potash Files Application for Mining License in Ethiopia

Allana Potash, a Canadian company focusing on potash asset development and several potash concessions in Ethiopia has announced last week that it has filed a complete feasibility study to the Ethiopian Ministry of Mines in a bid to acquire a mining license.

The Environmental, Social and Health Impact Assessment report, which comprises the mining license application is also in the final approval stage and the company is expecting a decision by the end of this month, according a press statement released on the Company's official website.

"The feasibility study is the final document required to upgrade the Company's Exploration License to a Mining License" said Farhad Abasov, president and CEO of Allana Potash.

Allana Potash's Ethiopia project  comprises four potash concessions (Dallol Potash Project) located in Ethiopia's northeastern Danakil Depression totaling approximately 312 square kilometers.

In April 2012 Allana released an updated NI 43-101 compliant resource estimate based on the results of 45 drillholes and results of the 2D seismic survey. The resource was prepared by Ercosplan and is comprised of Measured and Indicated Mineral Resources totaling 1,298 M tonnes containing 251M tonnes of KCl and additional Inferred Mineral Resources of 588M tonnes containing 109M tonnes of KCl.

Recently Allana has secured financial support from the International Finance Corporation, a member of the World Bank Group, and Liberty Metals and Mining Holdings, LLC, a subsidiary of Liberty Mutual Group.

Source: Allana Potash



Exchange Rates

USD 38.0521  37.3060 
GBP 46.9618  46.0410 
EUR 44.9091  44.0285 
CHF 40.0085  39.2240 
CAD 26.1146  25.6025 
AED 9.3744  9.1906