Mining Company to Withdraw from Ethiopian Project
June 18, 2012 - BHP Billiton, the largest mining company in the world, plans to pullout of the Dallol potash project in the Afar Regional State, according to the Reporter.
BHP has notified its decision to withdraw from the Dallol potash project to the Ministry of Mines. Sources said that the company has asked for clearance from the ministry adding that the reason for their withdrawal is not yet clear.
The Anglo-Australian mining giant has been prospecting for potash mineral in the Dallol Depression. The company has conducted seismic survey and drilled boreholes to make potash reserve deposit estimate found in the area. The Reporter’s repeated attempts to get the response of the senior officials of the Ministry of Mines were not successful. Those reddish spots are considered blood stains in Afar region
Studies indicate that there is a potash mineral deposit amounting to 160 million tons in the Dallol depression. Sainik, Indian company, BHP and Allana Resources are among the companies that have concessions in the Dallol Depression. BHP’s withdrawal will be a big let-down for the Ministry of Mines which at the same time is hard hit by staff turnover.
Professionals have been leaving the ministry in search of better pay. It has been almost a year since the Ministry stopped accepting new applications for mining licenses. The professionals in the area have been complaining about the leadership crisis at the ministry. http://www.ezega.com/News/NewsDetails.a ... ewsID=3315