Allana Potash (AAA/TSX) Buy: Target C$1.15
Meeting with ICL reaffirms our positive view on Allana and its strategic alliance
From June 2013. Senior managers of Allana Potash, which controls 160SqKm of the Danakhil Depression, at Dallol, in Afar Regional State, are in negotiations with the Africa Export-Import Bank (Afreximbank) over a possible 600 million dollars in financing to develop 1.3 billion tonnes of potash resources.
ICL, an Israel-based fertilizer producer, has bought a 16pc share in Allana Potash Afar Plc. Allana received a license to start potash production in Afar last October.
Linkls to various article published in The Financial Post on Allana Potash.
Article in The Globe and Mail regarding Allana Potash
Foreign Minister Dr Tedros Adhanom held talks with Chairman of Allana Postash, Mr. Negib Abba and representative of the Israel Chemical Limited on Friday (March 21). Mr. Negib announced that his company is establishing a joint venture with Israel Chemical Limited (ICL).
Last Month, Israel Chemicals said, it would partner with Canada’s Allana Potash to develop a potash mine in Ethiopia in a deal which includes ICL taking a stake in Allana