TECHNICAL & SOCIAL PROGRAM WORK
The Ministry of Water, Irrigation and Energyhas granted Allanaan exlcusive right to extract approximately 30,000,000 cubic metres of water per year which greatly exceeds the requirements for planned MOP production of 1 million tonnes per year which is estimated at 18,500,000 cubic metres per year. -- Optimization studies, including in-fill drilling, water field supply pre-construction development and additional solution mining work, are ongoing with ICL/AAA technical committee guidance. -- Final review of potential EPCM contractors for project pre-construction studies is in progress. -- After 18 months of dialogue and cooperation, the hamlets of Mororo and Alai Laiin the Afar region have been relocated and re-established under Allana'sRelocation Assistance Plan approved by the Ethiopian Government and the IFC. -- APA (Allana Potash Afar), in partnership with the Afar regional government, opened a dormant clinic in the village of Hamad Elain May 2014to provide primary health care to the local Afar people. To date, 219 patients have been treated at this new facility.
-- Construction at Tadjoura Port in
Djiboutiis proceeding and target completion is projected by the Djibouti Ports and Free Zones Authority(DPFZA) for Q1 2016. Allanaexpects to be granted construction access for the Tadjoura Potash Terminalfacility starting from mid-2015. -- Allanais completing the final elements of the commercial arrangement with the DPFZA, having clarified the physical and operations service interfaces between the DPFZA Tadjoura Port and Allana Tadjoura Potash Terminalfacilities. -- Construction of 120 km of upgraded highway in Djiboutiis also proceeding with completion projected by the Djibouti Ministry of Transport and Infrastructureto be by early 2015. -- Construction of 110 km of highway in Ethiopianear Allana'sproject site is expected to start with contracting by the Ethiopian Roads Authorityin late 2014. -- Tender is now out for the construction of the 216 km Asayita to Tadjoura railway project with contractor bids due to the Ethiopian Railway Authorityin early August 2014.
Allanahas worked with ICL to integrate project preparation activities with those of the lender group, and financing program activity is proceeding -- Core lender group and major supply-country export credit agency lender are following their processes in cooperation with Allanaand its advisors -- Timeline for completion of all debt financing expected to be late fall, early winter of this year
ICL is a global manufacturer of products based on unique minerals that fulfill humanity's essential needs, primarily in three markets: agriculture, food and engineered materials. The agricultural products that ICL produce help to feed the world's growing population. The potash and phosphates that it mines and manufactures are used as ingredients in fertilizers and serve as an essential component in the pharmaceutical and food additives industries. The food additives that we produce enable people to have greater access to more varied and higher quality food; ICL's water treatment products supply clean water to millions of people as well as industry around the world; and other substances, based on bromine and phosphates help to create energy that is more efficient and environmentally friendly, prevent the spread of forest fires and allow the safe and widespread use of a variety of products and materials. ICL benefits from a broad presence throughout the world and proximity to large markets, including in developing regions. ICL operates within a strategic framework of sustainability that includes a commitment to the environment, support of communities in which ICL's manufacturing operations are located and where its employees live, and a commitment to all its employees, customers, suppliers and other stakeholders.
ICL is a public company whose shares are traded on the
Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Statements with respect to mineral resource estimates, production timelines adthe effect and timing of the fertilizer program and blending plant construction are forward-looking statements. Forward-looking statements are based on the opinions, assumptions estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Such risks include the uncertainty with respect to the development and financing of the project on the timeline set out or at all, finally the fact that the expected benefits of the strategic alliance may not materialize, the inherent capital markets consequences of an equity controlling position, regulatory risks and such other risks as discussed in the risk factors sections of our latest annual information form, our technical reports and other continuous disclosure documents filed from time to time at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Allana Potash Corp. Richard A. KelertasSenior Vice President, Corporate Development 514 717 6256 firstname.lastname@example.org Source: Allana Potash Corp.