Danakali appoints Inglett and Stubbs as preferred power provider

Company News

by Roma Christian

Danakali Limited (ASX:DNK) and partner Eritrean National Mining Corporation has appointed Inglett and Stubbs International, as preferred power provider for its Colluli Sulphate of Potash Project, in the Eritrea region of East Africa.

The mining exploration company says tender bids were received in April, and were evaluated on alignment with power generation costs in the definitive feasibility study.

Danakali says the initial bid has power generation cost estimates within 1.5 per cent of the definitive feasibility study, including marginally lower development capital.

The company says they will now work to further refine the proposal, aligning final requirements to front-end engineering design outcomes.

Shares in Danakali Limited (ASX:DNK) are trading 2.63% higher to 78 cents.