Log In


Company Name : Essel Group ME

Thursday, October 5, 2017 7:55PM IST (2:25PM GMT)


Essel Group ME Appoints Colonnade as Bada Potash Drilling Contractor

London, United Kingdom

Essel Group ME Limited (“EGME”) is pleased to announce that it has appointed Colonnade Mining Group (Eritrea) Limited (“Colonnade”) as drilling contractor for its Bada potash project, located in the northern Danakil region of Eritrea, East Africa (“Bada”).


EGME’s subsidiary, Interu Mining, has signed a contract with Colonnade under which the latter will carry out a core sample drilling programme at Bada, marking a significant step in the project’s development.


The drilling programme will comprise of five bore holes, each 200 metres deep with a vertical incline or 75 degree angle. Core samples will be sent to an external laboratory for analysis to examine the occurrence of evaporate strata beneath the overburden layer. This will build on previous testing, providing EGME with a better understanding of Bada’s geology and potash-bearing potential.


Colonnade will supply the drill and necessary equipment, with mobilization of the equipment already underway. Colonnade has instructions to commence drilling by the 3rd week of October, for an expected period of 30 days.


EGME is seeking further opportunities to invest in forward international integration in the potash industry, particularly in Turkey and India, due to the commodity’s strong long-term fundamentals.


Punkaj Gupta, Joint Managing Director and Group CEO, Essel Group ME, commented:


“I am very pleased to be partnering with Colonnade, a leading drilling contractor in the region, at this exciting time for Bada. The core sample drilling programme marks a key milestone for the project, and will provide us with enhanced data to help fully understand the asset’s geology and potential.


“I am extremely excited about Bada’s prospects and its scope to possess significant potash resources and reserves. Its favourable geographical location and proximity to both transport infrastructure and key end users make this project even more promising. I look forward to providing further updates once the drilling programme and core sample analysis have been completed.”




About Essel Group ME


EGME operates subsidiary businesses in the natural resources, nuclear energy, financial services, industrial supply and logistics, education and media sectors. Its natural resources portfolio includes oil and gas, potash and iron ore assets. EGME pursues growth through the acquisition of underdeveloped assets at competitive valuations. Currently, its anchor assets are located across Africa, where there is significant potential and a competitive cost environment.


EGME is a part of Essel Group, the Indian multinational conglomerate operating in a broad spectrum of industries including media, packaging, infrastructure and technology. Building on Essel Group’s 90 year history of developing and promoting businesses, EGME is leading the expansion of the Group’s presence in Europe, the Middle East and Africa.


For further information, please visit www.esselgroupme.com.



Click here for Media Contact Details

Essel Group ME
Kriti Ladsaria,
+971 42793955
Dorothy Burwell / Charles O’Brien
+44 (0)20 7251 3801

More News from Essel Group ME

26/02/2018 4:11PM

एस्‍सेल ग्रुप एमई ने ईओस पेट्रो के साथ साझेदारी कर अपने तेल एवं गैस पोर्टफोलियो को बढ़ाया

एस्‍सेल ग्रुप एमई (“ईजीएमई”) ईओस पेट्रो के साथ अपनी नई साझेदारी और इसमें उल्‍लेखनीय इक्विटी निवेश की घोषणा कर खुशी हो रही है। ईओस पेट्रो एक अंतर्राष्‍ट्रीय तेल एवं गैस उत्‍खनन एवं ...

24/02/2018 1:53PM

Essel Group ME Expands Its Oil and Gas Portfolio by Partnering with Eos Petro

Essel Group ME ("EGME") is pleased to announce its new partnership and significant equity investment into Eos Petro, an international oil and gas exploration and production ("E&P") company. The ...

06/10/2017 7:50PM

एस्‍सेल ग्रुप एमई ने कोलोनेड को बाडा पोटाश ड्रिलिंग कॉन्‍ट्रैक्‍टर के तौर पर नियुक्‍त किया

एस्‍सेल ग्रुप एमई लिमिटेड (“ईजीएमई”) को यह घोषणा करते हुये खुशी हो रही है कि इसने एरिट्रिया के उत्‍तरी डानाकिल क्षेत्र, पूर्वी अफ्रीका (“बाडा”) में अपने बाडा पोटाश ...

Similar News

17/12/2018 3:59PM

ABB: Shaping a leader focused in digital industries

Fundamental actions to focus, simplify and lead in digital industries for enhanced customer value and shareholder returns   Focus of portfolio on digital industries through divestment of Power ...

No Image

17/12/2018 12:40PM Image

GIA India Conducts Pan-India Education Seminars for Members of the Gem and Jewellery Industry

To protect consumers and help ensure public trust in gems and jewellery, GIA India organised more than 30 education seminars for various associations during October and November across India.