Allana Potash focuses on Ethiopia to meet demands of a changing market

Financial Post | Business

The potash market has seen its share of trials in recent months. Cartel dissolutions, soaring production costs and declining spot prices have created a challenging market. But Toronto-based Allana Potash Corp. is one company that has turned those challenges to its advantage.

Since 2009, Allana’s primary focus has been on the acquisition and development of international potash assets. A cornerstone of its activities is the flagship Danakhil Potash Project in the Danakhil region of Ethiopia, which is on track to become the first functioning potash mine in Africa.

Unlike major projects that have faced cancellations or significant delays due to declining potash prices, Allana has a number of unique advantages, including an extremely low capital expense/operating expense model and a growing number of investment partners, says Richard Kelertas, senior vicepresident, corporate development, for the company. “What we have with Danakhil is a world-class, high-grade potash resource that we can access…

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