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Canada's Allana Potash discovers significant potash deposit in Ethiopia

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04/27/11

  02:34:14 am, by admin, 196 words  
Categories: Business, Ethiopia, Energy

Canada's Allana Potash discovers significant potash deposit in Ethiopia

Canada's Allana Potash discovers significant potash deposit in Ethiopia

nazret.com
- Toronto based Allana Potash Corp. said it has discovered a significant potash deposit in a previously unexplored area in Ethiopia. In a statement posted on the company's website, Farhad Abasov, President and CEO of Allana, commented: "We are very pleased with the identification of new potash mineralization in the southwestern part of the property. This region was previously unexplored with no previous drilling. Management intends to incorporate data from Hole 16 in the Company's new National Instrument 43-101 technical report, expected to be issued on or about the end of May, 2011."

Allana is a publicly traded corporation listed on the Toronto Venture Exchange, with a focus on the acquisition and development of potash assets internationally and a strong presence in Ethiopia. The company's stock (AAA) was up 6.11% and closed at $1.91 on Toronto Venture Exchange after the news.

Ethiopia has abundant potash deposit mainly in the northeastern Danakil Depression region. Most of the world's potash is used to make fertilizer. Major producers of potash include Canada and Russia.

Allana's CEO Farhad Abasov recently spoke to Business News Network about the project in Ethiopia. You can watch the video here.

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Comment from: Ethiopiawi [Visitor]
Ethiopiawi

Such a cliche, the country that is always associated with hunger will now become an exporter of fertilizer. I hope this time around the earnings will actually be used for public good and not to line the pockets of sycophants and enrich greedy politicians.

04/27/11 @ 02:53
Comment from: moges [Visitor]
moges

Great news like this makes my day:)

04/27/11 @ 03:17
Comment from: Picaso [Visitor]
Picaso

I am not really surprised. It is obvious that the Horn of Africa is blessed with numerous resources. Eritrea is currently in mining boom. If Ethiopias goes the same, at least the leaders will realize that there are a lot to loose in war. This good news for the Horn, as long as the resources are employed to relieve the people from poverty. I hope the countries of the Horn will not use it to divert it against each other. Otherwise will only have more bloodshade. However, I am optimistic that Eritrea and Ethiopia will lead the Horn to the right direction.

04/27/11 @ 06:43
Comment from: abel [Member]  
5 stars
abel

Ethiopia will produce and use it to manufacture fertilizers. The country is surely turning for good. Bad news for Extremist diaspora and and their masters the well known enemy states.

04/27/11 @ 08:33
Comment from: Tefera [Visitor]
Tefera

very interesting. the meles government may have a lot of baggages and problems which includes of them not being from amara ethnic, but when it comes to rolling their sleeves and working hard, they are the best. their slogan and goal is “development” whether real or perception. just listen to what the man said about the road and what it used to be in the past and what it is currently.

04/27/11 @ 09:42
Comment from: eskinder [Visitor]
eskinder

peace to all ethiopia H

04/27/11 @ 09:57
Comment from: Hakim [Visitor]
Hakim

The potash was discovered in Dalol (Afar). TPLF will redraw the map to make it Tigray, just like what they did to Humera.

04/27/11 @ 10:23
Comment from: Dejane [Visitor]
Dejane

It is not a surprise. OF-COURSE Ethiopia is blessed with various natural resources. There are plenty of minerals and treasurers which are to be discovered. The only problem in Ethiopia is lack of leadership. Ethiopia need leaders who are willing to engage its people in improving the living situation and catalyse SELF-SUFFICIENCY by using its abundant farm land and natural resources which include NILE as well as other major rivers . Under GOOD MANAGEMENT AND LEADERSHIP, ETHIOPIA CAN CLAIM ITS POSITION IN WORLD MAP! The only problem of Ethiopia is the Woyane regime which is dishing fertile farm land to foreigners and allowing corruption to benefit a particular tribe and friends. ONCE the leaders who are true sons and daughters of Ethiopia will be democratically elected into authority position, ETHIOPIANS WILL BECOME AN ENVY OF THE WORLD BY EXPLOITING THE COUNTRIES NATURAL RESOURCES WHICH INCLUDE ITS CREATIVE AND HARDWORKING CITIZENS! So its time to say “ENOUGH” with Meles and Woyane leadership which never had interest of the well-being of ETHIOPIA and ETHIOPIANS at heart and concentrate on development programs by partnering with companies that have a proven record of doing good business. I AM GOING TO EMPHASIZE ON HAVING LEADERS WHO WILL CHALLENGE THE FOLLOWING ISSUES
1 Eradicating dependency on foreign aid on food self-sufficiency unconditionally!
2 Reduce the spread of HIV and improve the healthcare of the people by fighting diseases in rural and urban areas.
3 Provide QUALITY education to all Ethiopians without favoring one region over the others and reduce illitracy by giving equal opprtunity to boys and girls at all levels.
4 STOP dividing ETHIOPIANS along tribal, religious, language and region bases and preach UNITY, LOVE, PEACE and ACCEPTANCE between citizens.
5 Eradicate corruption and nepotism altogether to facilitate profesionalism in public and government facilities.
6 Reclaim the land of Ethiopia which had been gifted to foreign countries.
7 Never go into war with neighbouring countries on behalf of USA OR WESTERN COUNTRIES!
8 The Ethiopian LAW should be respected as a supreme LAW of the land and abided by all citizens regardless of their status or position.
WE NEED TO THINK ABOUT THIS POINTS IN ORDER TO HAVE A PROSPEROUS AND SUCCESSFUL ETHIOPIA.
Thank you for willing to think rationally!

04/27/11 @ 11:15
Comment from: C'moi senait [Visitor]
C'moi senait

I hope the agreement was made accordingly which is to say, 50% to the company and 50% to ethiopia. I am sure that weyannes sold it with 10,000kg potash with 1 ethiopian birr.
Heheee. It never surprises me!!!! Desperat weyannes are now selling it all in big discount and stashing the money to singapor.

04/27/11 @ 11:43
Comment from: Zafu [Visitor]
Zafu

ይህ የPotash ወሬ ከደርግ ጊዜ ጀምሮ ሲዘገብ የቆየ ዜና ነው:: ወያኔም ለ20 አመታት አገር መግዛት ሲለማመድ ቆይቶ ዘንድሮ ከንቅልፉ ባኖ አንዴ አባይ: አንዴ የባቡር መንገድ: አሁን ደግሞ Potash እያለ ያደነቁረናል::

04/27/11 @ 12:34
Comment from: gud [Visitor]
gud

c’moi senait

why don’t you go to singapor and robe the bank? if you know where it is,you might get your share. other wise shut the f$#K up!! alubaltenga!!!

04/27/11 @ 13:18
Comment from: Dagnachew Koru [Visitor]
Dagnachew Koru

I am very happy.

To C’moi senait the Ho
I am counting how many birilles and melekiyas in my tej and areqe shack’s capboard.

04/27/11 @ 14:27
Comment from: ethiopiawe [Visitor]
ethiopiawe

We know Ethiopia is rich in many things therefore, she needs only peace and god bless the Canadian company.

04/27/11 @ 17:47
Comment from: menzew [Visitor]
menzew

c’moi senait, People like you like to draw attention because they are illiterate and brain damaged. You are not intelligent,c’moi senait. Even you can’t spell your french nick name perfectly. What the hell are you doing for a living? I bet you are a low class old wh___, who is engaged in disturbing your neighbours on a daily basis. We are really tired of your ordinary comments. pls go to school.

04/27/11 @ 22:55
Comment from: Deresge Atlabachew [Visitor]
Deresge Atlabachew

What happend to Semen Shoa? No Dam, No factory, no road through Amarit Wuha and Kromash, even not for Ankober, our old Capital City, not in Sheno, not in Chacha. The road from Addis to Debre Birhan to Desie then Mekele and Asmaro has not been used instead thru Bahirdar or Nazreth. There is +No person who has position from this Semen Shoa? We know the great oromo leadr now working with EPRDF is Ato Belete Dagne. Please sir voice your concern for this area while you are there. The last three government did nothing sebstantial for this area including the current one. Semen shoa is half Oromiya and half Amara. The plan for industry and Hospital for cancer are void. Even the planned Railway do not pass this way. Iree Ye-ingzer yalleh?

04/28/11 @ 01:05

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