Norwegian fertilizer firm Yara said it was looking for equity partners to develop a $740 million potash mining project in Ethiopia after a feasibility study confirmed the prospect's potential.

"The independent study identified an annual production of 600,000 metric tons sulfate of potash over 23 years from reserves at Yara's Danakil concession," it said.

"The company, which aims to begin mining activities in the third quarter of 2018, is now seeking equity partners to develop the project," Yara added.