We will produce SOP for the next 200 years

At a glance

Danakali Limited (ASX: DNK) is a resource company focused on Colluli SOP Project in Eritrea, East Africa. Our strategy targets development of a world class potash project that will become pivotal for Global and African agriculture. Colluli is expected to provide an outstanding economic, social and community dividend through positive impact on infrastructure, job creation and sustainability in Eritrea. It has industry-leading capital intensity, highly attractive economic returns, significant multi-commodity potential and the potential to become the worlds-first zero-carbon producer of SOP

Why our work matters

World population is forecasted to grow to 9 billion people by 2050. The future needs food. And the only way we’re going to feed everyone is to drive the sustainable intensification of agriculture by providing responsibly sourced, climate-friendly fertiliser inputs. Agriculture is unique in its ability to reduce its emissions and increase carbon removals from the atmosphere and contribute to emission reductions in other sectors by substituting carbon-intensive materials and energy. The sector is increasingly seen as an essential means to reach net-zero, whether through biomass production to replace fossil products or freeing up land to build carbon sinks. Moving towards the production of fertilizers with a low carbon footprint supports such a transition

Vision, mission and values

Our Vision, Mission and Values capture in words the spirit of Danakali and what we stand for. They guide the decisions, actions and behaviours of our people; are evidenced in our relationships with our partners, customers, stakeholders and shareholders; and drive our performance and growth.

Our Vision

Food and nutrition security is a basic human right and we will lead the world by producing essential nutrients the world needs to sustainably grow nutritious food.

Our Mission

To build the longest life fertilizer production company of the 21st century, that increases global food nutrition for 200 years, supporting farmers and nourishing communities with sustainable zero carbon products where the world needs it most.

Our Values

Our values are the foundation on which we conduct business. Our values unite us with a common language and behaviour, both towards each other and our external stakeholders and guide our decision-making. We are defined by our core values of valuing our people, acting with integrity, respecting and protecting the environment, pursuing constant improvement of our performance and embracing the principle that everything should be as simple as possible.

We believe everyone has a basic right to access affordable nutritious sustainably produced food.

Colluli is a 200-year project will be built on a foundation of trust. We are patient, our sure-footed approach ensures we capture long term value carefully.

We do the right thing and pride ourselves on complete visibility.

Communicating with open candor and respect with all our stakeholders from the foundations of the communities we work alongside to the global market who will use our product is fundamental to us.

Protecting the future of agriculture and communities it supports.

We believe in a sustainable future, where everyone has access to nutritious healthy food grown in nutrient rich soil by the most environmentally efficient methods

We have a hunger to learn and do things better.

Building a better world requires the support from many and a disciplined focus of a team that doesn’t underestimate the importance of the openness to learn from anyone.

We have the courage to disrupt the future of the food production.

We make create changes and take risks in fertilizer production that challenge the status quo.

Accelerating change in fertilizer production with a curious commitment continuous improvement is fundamental to us.

Board and management

Highly qualified Board and management team committed to promoting best standards of corporate governance and delivering Danakali’s strategy in line with shareholders’ and Eritrea’s long-term interests. Extensive sector and regional expertise generate confidence that the Colluli Project is executes in the most responsible and sustainable manner.

Board

Technical Background: Corporate lawyer LLB, LLM

Relevant Experience: Cross-border resources and finance commercial negotiations and documentation.

Mr Cornelius is a corporate lawyer and former partner of one of Australia’s leading international law firms. He has a high degree of expertise in cross-border transactions, particularly in the resources and finance sectors.

Mr Cornelius has been based in China since 1993 and brings more than 20 years of corporate experience in legal and commercial negotiations. He has also advised global companies including major resource companies and banks on their investments in China and advised Chinese State-owned entities on their investments in overseas resource projects. Mr Cornelius is currently the Non-Executive Chairman of Buxton Resources Ltd (appointed 29 November 2010), Element 25 Ltd (appointed 30 June 2011), and Duketon Mining Ltd (appointed 8 February 2013).

Special Responsibilities: Mr Cornelius is a member of both the Audit committee and the Technical and Risk committee.

Technical Background: Qualified mining engineer (University of Nottingham)

Relevant Experience: Mining and finance industry professional with extensive investor market, finance, portfolio management and leadership experience. Over 35 years in asset management, senior roles within Credit Suisse and most recently at JPM Global Natural Resources Fund.

Mr Gregson is an experienced resource sector investor having spent over 30 years managing investments predominantly in mining and energy companies.

Mr Gregson’s previous roles included portfolio manager in J.P.Morgan Asset Management’s Global Equities Team based in London and responsible for global natural resource mandates. Prior investment roles were with CQS Asset Management as a Senior Portfolio Manager, with a focus on the natural resource sector and Credit Suisse Asset Management as Head of Emerging Markets and related sector funds.

Mr Gregson began his career holding various positions at mining companies, including a role as a mining investment analyst at South African company Gold Fields. He is a qualified mining engineer.

Technical Background: Banking and finance, President and Chief Executive Officer Africa Finance Corporation (AFC)

Relevant Experience: Extensive project finance experience in green-field project finance, acquisitions, corporate transformation, privatization and equity capital market transactions

Mr Zubairu is AFC’s President and CEO. Prior to his appointment, he was the CEO of Africapital Management Limited and has established a joint venture with Old Mutual’s African Infrastructure Investment Managers to develop the Nigerian Infrastructure Investment Fund 1 for infrastructure private equity across West Africa.

Mr Zubairu led the launch of Africa’s largest syndicated project finance facility for the Obajana Cement project and has undertaken investments of over US$3 billion in green-field projects, acquisitions, corporate transformation, privatization and equity capital market transactions.

He holds several non-executive board positions including the Advisory board member for KSE Africa, a leading operations and management provider of captive power plants in the mining sectors in Botswana and Nigeria.

Technical Background: Senior Director for Investment Operations & Execution, Africa Finance Corporation (AFC)

Relevant Experience: Extensive in infrastructure investments and financial sector development

Mr Adeniji is Senior Director, Investments Group at the AFC where he oversees investments in oil & gas, mining and transport infrastructure.

Mr Adeniji has led the efforts at providing financial advisory and structuring services for AFC’s investments in infrastructure projects, including supervising the management of the Central Bank of Nigeria’s US$2 billion Power Intervention Fund in Nigeria. Recent transactions included the award-winning US$900 million Kpone IPP Project in Ghana, as well as the innovatively-structured US$360million Hakan Peat-fired IPP project in Rwanda.

His academic background is in economics and finance. He is an Honorary Senior Member (HCIB) of The Chartered Institute of Bankers of Nigeria.

Technical Background: Master’s in Business and Technology and a degree in Mining Engineering 

Relevant Experience: Strategy, Operations Management, Process Engineering, Projects and Engineering, Maintenance Management, and Business Process Improvement.

Over 30 years’ experience in senior management at BHP, Danakali and Pacific National. Mr Donaldson held a series of senior management roles spanning over 20 years with BHP Billiton where he managed large scale open-cut mining operations, headed the BHP Carbon Steel Materials Technical Marketing Team, managed the Port Hedland iron ore facility, as well as key roles in product and infrastructure planning across large scale supply chains.

He also has extensive experience in high level business improvement and logistics from base metal operations and a high degree of integrated supply chain management, technical operational management and frontline leadership experience in the steel industry.

Technical Background: Master’s Degree in International Consultancy and Accounting

Relevant Experience: Ms Zhang Jing joined the board in June 2016, and has held investment and project management roles in public listed companies in China. She brings more than 15 years of international trading and business development experience to the board.

Ms Zhang joined the board in June 2016, and has previously held investment and project managerial roles in public listed companies in China. She has more than 15 years of international trading and business development experience in China.

Ms Zhang holds a Master’s degree in International Consultancy and Accounting form the University of Reading in the United Kingdom.

Company Secretary

Technical Background: Certified Practicing Accountant (CPA), Bachelor of Commerce, AGIA/ACIS, GAICD

Relevant Experience: Over 17 years’ experience in the provision of accounting, finance and company secretarial services to public listed and private resource companies in Australia and the UK.

Technical Background: Chartered Accountant (ICAA), Bachelor of Commerce

Relevant Experience: Over 14 years’ experience in external audit and the provision of accounting, finance and company secretarial services to listed resource companies.

Executive Team

Technical Background: PhD in Physical Chemistry, over 30 years of experience in the potash industry.

Relevant Experience: Responsible for the safe and environmentally responsible production of potash as the Vice President of Operations for Arab Potash Company and as General Manager of Nutrien’s Allan Division. Director of Process and Product Innovation for Nutrien, which included responsibility for new product development, process development for all Nutrien potash expansions, as well as innovation and advanced process control.

Technical Background: Mechanical Engineering and Project Management

Relevant Experience: Over 35 years’ experience managing the delivery of EPC, lump sum and EPCM projects across a diverse range of commodities, mineral processing units and jurisdictions including East Africa, West Africa, Southern Africa, China, Europe, UK and Australia.

Management Team

Technical Background: Chartered Accountant, PGDip (Fin), B.COM (Hons), BAccS

Relevant Experience: Mr MacPherson is a qualified Chartered Accountant with extensive experience in the resources industry.

He began his career in the Assurance & Advisory division of KPMG, before moving into commerce where he later joined Anglo America to establish the joint venture company Anglo American Inyosi Coal. He has significant experience in working in joint venture companies in Africa and instituting the financial and commercial functions for these businesses.

Mr MacPherson has strong governance competencies and is a graduate of the Institution of Chartered Secretaries. He was a Board member and Chairman of the Risk and Audit Committee for the Phola Coal Processing Plant, a joint venture with BHP.

Technical Background: Geologist

Relevant Experience: Development and exploration of potash, gold, base metals and industrial minerals.

Corporate Governance

A strong corporate governance framework ensures the interests of our stakeholders are at the center of every decision we make. Our practices not only meet the requirements of regulatory authorities, but also stand up to the highest ethical standards. Our Sustainable Development Framework, Corporate Governance Statement and supporting policies allow Danakali to manage affairs with proper oversight and accountability, ultimately creating and protecting shareholder value.