ASX-listed potash project developer Danakali intends to list on the LSE on July 24.
The company’s ordinary shares will remain listed on the ASX.
Danakali is developing the low-cost, shallow and advanced greenfield sulphate of potash (SoP) Coluli project, in Eritrea.
The LSE listing will provide UK and international investors exposure to an economically attractive SoP project, with a valuation of $902-million and an internal rate of return of 29.9%, as well as an almost 200-year mine life.
It is expected that the mine will produce 944 000 t/y once Module II production is complete – Module 1 is expected to produce 472 000 t/y.
SoP is used on high-value, chloride-sensitive crops such as fruit, nuts and coffee plants and commands a substantial premium over the more widely available muriate of potash, that has a high chloride content.