Ethiopia set to sell its potash resource in the global market within the coming four years, the country’s Ministry of Mines, Petroleum and Natural Gas said on Monday. Studies showed the existence of more than 100 million tons of potash deposit around Dalol region, Afar state of Ethiopia, making the east African nation the third country in the world to have rich deposit of the mineral.
Three international companies have asked for licenses to engage in potash development in the region, Tolosa Shagi, Minister of Mines, Petroleum and Natural Gas said.
Currently, the British Circum Minerals Ltd and the Norwegian Yara International are undertaking broad activities to export the product as the government is building infrastructure in potash rich areas.
Allana potash, which was previously licensed to develop potash mineral at the regional state, transferred its license to the leading Israeli Chemical Ltd (ICL) due to financial constraints.
Many investors are also showing interest to establish potash fertilizer factory in Ethiopia, the minister said adding the nation will be using the Tajura port of Djibouti to export the mineral.
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