Danakali: Notice to Proceed issued to DRA Global
LONDON--(BUSINESS WIRE)--Dec 20, 2019--
Danakali Limited (ASX: DNK, LSE: DNK, Danakali or the Company ), is pleased to announce that the Colluli Mining Share Company ( CMSC ) has issued a Notice to Proceed to DRA Global ( DRA ), the preferred provider of Engineering, Procurement and Construction Management ( EPCM ) services for the Colluli Sulphate of Potash Project ( Colluli or the Project ). The Notice to Proceed is an interim agreement that allows DRA and CMSC to commence the EPCM process. Further, the Colluli Mining Share Company ( CMSC ) Board has resolved to commence EPCM phases 1 & 2.
DRA is a high quality, multi-disciplinary global project management and engineering group with strong African experience and EPCM delivery capability. The scope of DRA’s contract includes:
EPCM phase 1 & 2 activities will include:
The purpose of the phased EPCM approach is to ensure that CMSC achieves technical, commercial, financial and nameplate requirements that satisfy the economic model, funding criteria and the expectations of all stakeholders. CMSC’s phased EPCM approach follows.
Project Director, Tony Harrington, said: “I am very pleased we will be formalising our partnership with DRA after over a year of quality and positive interactions with their team. With the majority of project funding committed the CMSC Owner’s Team is ready and eager to collaborate with DRA and commence work immediately. This is the moment our personnel and other stakeholders in Eritrea have been waiting for.” (see excerpts from a 2019 interview with Mr. Harrington at http://www.danakali.com.au/investor-relations/asx-announcements )
EPCM phases 1 & 2 - Mobilisation
EPCM phases 3 to 6 - Construction
2.25 years from commencement of project execution to production
Visit the Company’s website: www.danakali.com
Follow Danakali on LinkedIn: www.linkedin.com/company/danakali-limited
Subscribe to Danakali on YouTube: www.youtube.com/channel/UChGKN4-M4lOvPKxs9b-IJvw
Announcement authorised for release by the board of Danakali.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005147/en/
Chief Executive Officer
+61 8 6189 8635
Head of Corporate Development & External Affairs
+61 499 776 998
Corporate Broker – Numis Securities
John Prior / James Black / Paul Gillam
+44 (0)20 7260 1000
UK IR/PR – Instinctif Partners
Mark Garraway / Sarah Hourahane / Dinara Shikhametova
+44 (0)207 457 2020
KEYWORD: AUSTRALIA/OCEANIA EUROPE AUSTRALIA UNITED KINGDOM
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY NATURAL RESOURCES FINANCE ENGINEERING PROFESSIONAL SERVICES OTHER CONSTRUCTION & PROPERTY MINING/MINERALS MANUFACTURING
SOURCE: Danakali Limited
Copyright Business Wire 2019.
PUB: 12/20/2019 04:47 AM/DISC: 12/20/2019 04:47 AM