Addise Ababa March 28, 2016 Ethiopia’s vast deposit of potash will make its way to global markets within the coming four years, announced the Ministry of Mines, Petroleum and Natural Gas (MoMPNG).
Three international companies were involved in the study and they are about to start production of the mineral, the Minister Tolosa Shagi disclosed to ENA.
Due to limitations in capital, the Canadian miner Allana Potash Corporation which was a standalone company in the potash exploration has already been acquired by fertilizer giant Israel Chemicals Ltd. (ICL).
Along with ICL, Sarkam Mineral UK and Yara International ASA, a Norwegian chemical company have been involved in potash mining in Ethiopia which enable them to involve in export of the mineral, according to the minister.
The companies are currently facilitating ways for the export of the mineral.
“The exploration takes long and we are assisting potential companies investing in the sector with friendly policies and the stability in the country all helping attract such companies,” Tolosa said.
The Ethiopian government along with stakeholders is installing power, water and road infrastructures to facilitate export of the mineral.
The minister also mentioned activities from the part of Djibouti as the country is expanding the Port of Tadjoura to facilitate export.
According to Tolosa, many investors are showing interest to set up potash fertilizer factory in Ethiopia.
Ethiopia’s potash deposit is estimated at more than 100 million tons which, according to the minister, makes the country home to the third largest potash deposit in the world.
Potash is found in significant quantity and quality in a limited number of countries. Canada has almost half of known global reserves and approximately 36 percent of world capacity, according to Potash Corp.
Source: Ethiopian News Agency