Through its wholly-owned subsidiary, Circum Minerals Potash Ltd., the Company holds a 100% interest in a mining license covering 365 square kilometres in the Danakil Basin known as the “Danakil Potash Project”.
In 2013, Circum acquired a 70% interest in the Danakil Potash Project from AgriMinco Inc., which retained a 30% interest. AgriMinco’s interest was subsequently sold to Premier African Minerals Limited (PREM) and Circum acquired the remaining 30% interest in the Project from PREM in May 2014.
After the acquisition of its initial interest in the Danakil Potash Project, Circum appointed Plinian Capital Ltd. to manage the exploration and development of this potentially significant potash deposit. In July 2015, following extensive exploration drilling, the completion of a 2D seismic survey, as well as a water exploration program, Circum completed a definitive feasibility study (DFS) to the standard of the NI 43-101 Canadian securities code.
In April 2017, Circum's application for a mining license was approved by the Council of Ministers of Ethiopia, and is valid for an initial 20 years, renewable thereafter in 10 year terms. Circum has also obtained Government approval of its Environmental and Social Impact Assessment and Environmental Management Plan.
Circum has since undertaken further studies to optimise the project. The development of the processing plants has been modularised, enabling Circum to build the project in phases, requiring lower initial capital. In June 2018 Circum completed a DFS on the first phase of the modularised process, and is currently structuring a finance package to enable the company to develop the mine.