Allana Potash: on the way to becoming one of the first and largest potash producers in Africa

Allana-Potash-FarhadJanuary 18, 2012 — Farhad Abasov, President and CEO of Allana Potash Corp. (TSX: AAA | ALLRF: OTCQX) in an interview with Tracy Weslosky, Publisher of ProEdgeWire said: “We have finished our exploration last year and we’ve been in the development stage for the last 12-18 months….we’re entering what we call our pre-construction phase.”

Farhad also noted that Allana has secured the necessary water supply and much of the transportation infrastructure in place, crucial factors for the project, which should ensure an initial production of about 1 million tons starting at the end of 2014 or early 2015. Allana has also resorted to project financing mechanisms and Farhad said that “probably 60-65% of $800 million CAPEX requirements can come from project finance or debt financing and the rest we’ll raise from our equity financiers”.

Disclaimer: Allana Potash Corp. is a member of ProEdgeWire.

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Tracy Weslosky

About Tracy Weslosky

Tracy Weslosky is the Publisher and Editor-in-Chief of InvestorIntel, a leading global investment intelligence source created for the innovative and entrepreneurial minded that represents publicly listed companies that are listed on Tracy is also the Founder & CEO for ProEdge Media Corp., an online publishing and media production company since 2001 that owns InvestorIntel. Tracy is also the Managing Partner for 724 Capital Corp., a business consulting firm that lists all clients on Previously she has owned a boutique Investment Banking firm for 7 years that was the basis for a business reality television series called, DealFlow. Aired around the world for 3 years on CNBC World, WealthTV and many other networks globally; Tracy is a speaker, writer and an entrepreneur.
  1. Hi Tracy, Next time he comes around, ask him how threatened he feeling about the cheaper potash mining alternative in Eritrea. There is an Ausie company that is targetting for open pit mining from the Eritrean side with only 100km away from the seaport. This is compared to Allana’s 600km commute to port and a solution mining process (versus open pit).

  2. Certainly the Eritrean project of South Boulder Mines has some interesting potential. However, the government is now demanding a 50% free carry(up from 10%) with no cash/equity contribution so the company is likely re-evaluationg its options. As well, a coup attempt just last week in that country has left many investors wary of Eritrea as a safe mining jurisdiction now……Ethiopia, in contrast, has a stable and growing economy(+9%/yr over the past 7 years), a growing middle class and is a mining friendly and safe country to operate in ….investors are noticing the difference and are looking and investing in many new opportunities in Ethiopia as have many western and eastern governments that have been investing heavily there for years……

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