Company to invest USD one billion on Ethiopian potash mine
One of the leading fertilizer manufacturers in the world, Israel Chemicals Ltd (ICL), is going to take over Allana Potash of Canada that owns a potash mine in Ethiopia.
Last year ICL bought 16 of the shares on Allana Potash. On Thursday Allana Potash announced that it reached an agreement with ICL to sell the remaining 84 percent of Allana’s share. The agreement was signed by the two parties in Toronto, Canada at the headquarters of Allana. Allana Potash is a publicly traded company registered in the Toronto Stock Exchange.
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