The Chairman and Co-founder of Circum Minerals Ltd. (“Circum” or the “Company”) Stephen Dattels, today announced that Circum has completed its Definitive Feasibility Study (“DFS”) on its world-class potash project in the Denakil Basin in Ethiopia. Circum’s Denakil Project is operated by Plinian Capital Limited managed by Brad Mills, who commented, “The Denakil Project is expected to be one of the largest potash projects in the world. With its large scale, low cost profile it is on track to become the world’s lowest cost potash producer and a major supplier to the Asian and South East Asian markets.”
Feasibility study for the Denakil potash project in Ethiopia showed the project’s net present value to be $2.1 billion at a 10% discount rate. Circum Minerals Ltd. is a private company focused on the development of a significant potash deposit in the Denakil Basin of Ethiopia. Through its wholly-owned subsidiary, Circum Minerals Potash Ltd., the Company holds a 100% interest in an exploration license covering 365 square kilometers. Circum’s Ethiopian Denakil Project Proves up 4.2 B tons of Potash Exploration Potential from Seismic Data indicates a further 7-9B tons. Total Resource Potential shows World Class Potash Project of 11-13B tones Circum’s Danakil Project to Impact global Potash Market the company said earlier.
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