Aim- and JSE-listed Kore Potash is finalising the remaining volume of documents needed to complete a definitive feasibility study (DFS) for the company’s Sintoukola (Kola) potash project, in the Republic of Congo (RoC).
“Completion of the study is a critical step towards unlocking the potential of the Kola project area. We expect the DFS to forecast operating costs that demonstrate the potential for production at Kola to be disruptive in the potash market and generate significant cash flows for multiple generations,” CEO Brad Sampson said on Tuesday.
The DFS is being undertaken in partnership with a consortium of French engineering companies.
The consortium has already completed 15 of the 16 DFS volumes required.
Additionally, amendments to the Kola environmental- and social-impact assessment (Esia) have been made, reflecting project design changes since it was approved. Work on a restructured Esia continues and will be reviewed by the regulator before submission to the Environment Minister for approval.
The company is awaiting feedback from the Ministry of Mines and Geology on whether further action is required by Kore to finalise the mining convention for the Kola project. The convention has been approved by the Congolese Cabinet and Parliament.
During the quarter ended September 30, the company declared a maiden sylvinite mineral resource estimate for the Dougou Extension, which is near the Kola project. The combined inferred and indicated sylvinite mineral resource estimate is 232-million tonnes, grading 38.1% potassium chloride (KCI).
The Kola sylvenite deposit has a measured and indicated sylvenite mineral resource estimate of 508-million tonnes, grading 35.4% KCI.
Meanwhile, a licence for the company to use an offshore area for the transshipment of potash and the discharge of waste brine has been authorised by the Minister of Transport, Civil Aviation and Merchant Marine of the RoC and was issued to the company in September.