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Danakali to leave London Stock Exchange

Danakali is exploring the use of filtered seawater at Colluli. (Image courtesy of Danakali.)

Australia’s potash miner Danakali (ASX, LON: DNK) has requested a cancellation of its listing on the London Stock Exchange, expected to be effective on September 24. 

The Perth-based miner, which is developing the Colluli sulphate of potash (SoP) project in Eritrea, will keep its Australian listing. 

The company believes that Colluli is set to be a global game-changer with the potential to become the world’s first zero-carbon producer of SOP, a premium-quality potash. 

The project is the only known resource that allows extraction of the fertilizer in solid form. It also has access to solar, wind and geothermal energy systems – the East African rift. 

Testing in 2015 proved that SoP could be made from Colluli ore, but only at higher water rates with Reverse Osmosis fresh water. 

Courtesy of Danakali | Twitter.

What was achieved with recent test work with the Saskatchewan Research Council in 2021 demonstrates that high-quality product only using seawater is assured, Danakali said. 

The innovation adds to the miner’s recent assessment of the use of both solar and wind energy at Colluli. 

Potash prices have climbed this year as higher crop prices helped boost farmer spending on soil nutrients. 

US sanctions on Belarus’ state-owned producer, Belaruskali OAO, announced Monday, could prompt further gains for the commodity, experts say, likely benefitting North American producers such as Nutrien Ltd. and Russia’s Uralkali PJSC.