Thirteen years ago I discovered the Danakali company established to develop the fantastic potash resources of Colluli in the Erythrean depression. I did not invest in it because its shares were available only in Perth, Australia, and to buy it would have been complicated, and needed an Australian broker in the Perth stock exchange. Pity.
I thought that the Israeli firm ICL had invested in the firm, but now discovered that Danakali had sold it to the Chinese company Sichuan Road and Bridge Group. The share is valued at 0.42 Australian dollars and it is paying back 100% of it to the stockholders as DIVIDEND while continuing to actively look for other projects. It may have been a good investment.
Ted (a commenter on Danakali's site), writes:The reason Denkali sold its interest to Chinese is they can’t raise the necessary capital because of the west make it hard to do business in Eritrea. Ask the executives they will tell you the reasons. Eritrea was consistent in its interest to work with mining companies from Canada and Australia but the business environment purposely made hard by the west to do business in Eritrea. The gap is filled by Chinese only because they come with the necessary cash, technology and human capital.
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