Aim-listed Emmerson says it has made considerable operational, corporate and commercial progress towards delivering a “shovel-ready” Khemisset potash project, in Morocco, by the end of the year.
The year ended December 31, 2021, helped boost Emmerson’s net present value predictions for the project to $1.4-billion, thanks to improvements in potash prices.
The company continues to advance negotiations on debt and equity financing with a range of international and Moroccan institutions.
With the prevailing war in Ukraine having a considerable impact on fertiliser and food supply chains and prices, the importance of food security has never been clearer, and potash has a key role to play, says chairperson James Kelly.
About 40% of global potash production in 2021 came from Russia and Beralus, and these suppliers are likely to be constrained by sanctions of various natures for the foreseeable future.
Against this backdrop, the world needs new sources of potash.
The Khemisset project can be built in two years. It is envisioned to supply 735 000 t/y of muriate of potash for at least 19 years.