And some nut cases who hate our govt fool themselves by saying that the stupid USA SANCTIONS didn’t hurt the Eritrean people.
UN sanctions lifted in 2018. Then the company secured $200m senior project debt in 2019. When the project was about to kickstart in 2020, covid disrupts the market. In Nov 2021, U.S. Treasury sanction disrupts key funding deals & shut opportunities for potential western investors.
The fate of this world-class project is about to be sealed with China. The short-sighted US policy on Eritrea, once again, handed China a very lucrative, 200 years mine life potash, and most importantly the entire Danakali basin (estimated to be a billion tons of potash).
Whoever ends up in a Join Venture with ENAMCO (State-owned mining co. developing Colluli) has the entire Danakali basin, which is believed to be a thousand years of potash production. What the U.S. Treasury sanction did is, it excludes all western companies from the project, for good.
China always gains at US' stupidity. Congratulations Biden.