Danakil Potash Project approvedCircum Minerals Ltd. ( "Circum" or the "Company") is pleased to announce that it has been aware of the fact that their application for a mining permit for a world-class project, the Danakil Potash Project (the "Project"), which located in the Danakil region in northeastern Ethiopia, was approved by the Council of Ministers of the Federal Democratic Republic of Ethiopia.The mining agreement (the "license") provides exclusive access to more than 4.9 billion tonnes of NI 43-101 compliant potassium sources located in the license area comprising 365 square kilometers. The license has an initial term of 20 years and will be renewed indefinitely for periods of 10 years, provided that the project is financially viable.The license provides for the use of potassium-bearing minerals that are located at a relatively shallow depth within the vast license area. The minerals will be recovered by means of dissolution mining, a mine construction method with a low risk which is very suitable for this region, and will be processed by means of crystallization in solar pelvis after which it will finally be refined in a process plant. The combination of these techniques, proven by field trials in the license area will lead to operational costs, as expected, one of the lowest in the global potash industry for both potash (MOP) and potassium sulphate (SOP) will be.The granting of the license is following the submission of a comprehensive set of required documentation, including a definitive feasibility study, an assessment of the impact on the environment and society and the associated management and detailed production and financial models.The chairman and co-founder of Circum, Stephen Dattels , commented: "We are pleased that the Ethiopian government has approved the mining license for this world-class project This is an important milestone for both the company and the country now we have a compelling investment situation.. supporting the development of this project in view of the discovery and proof of the enormous amount of resources, our proof of excellent financial viability, the successful operation of our mining solution and the subsequent production of potasproducten and above all, the strong government support that we have received, as evidenced by the granting of the mining permit. "Circum worked during the approval process closely with a number of Ethiopian government ministries and sincerely grateful for both the commitment to support the progress of the project.For more information, please visit: www.circumminerals.com

Source: Ethiopian News March 14, 2017 09:45 UTC