Emerging potash developer Kore Potash has received a letter of support from the Congo-Brazzaville Ministry of Mines regarding the company’s development of the Kola potash project.
Kore first published a definitive feasibility study on the Kola project, which is based in the Sintoukola basin of Congo-Brazzaville, early in 2019.
The Ministry also pledged its support for Kore to develop the Dougou potash project, for which Kore first published a scoping study in February 2015.
Kore chairperson David Hathorn says the successful development of globally important potash projects such as Kola requires sustained support from all stakeholders, including government, particularly with respect to the timeframe and scale of international investment required to develop a potash industry.
He adds that the Kola deposit in particular needs to be developed to play its role in feeding the world’s population. “Its successful development will have a material contribution towards the sustained development of Congo-Brazzaville."
Notably, the Ministry acknowledged in its letter of support that some of the development objectives for the Kola and Dougou projects, as outlined in the Mining Convention, had not yet been met. The Ministry also assured its steadfast support, in the form of a moral guarantee, to assist in addressing any remaining challenges to completing the financing of Kola.
It also reaffirmed the validity of the company’s mining tenement titles and the Mining Convention which is the operating agreement between Kore and the government.
The Ministry encouraged Kore’s shareholders to continue supporting the company without hesitation.
Kore intends to maintain high levels of ongoing dialogue with the Ministry over coming months as the financing of the Kola project is finalised.
Once operational, the Kola project will be one of the lowest cost muriate of potash projects globally, owing to the shallow depth of the orebody – 260 m to shaft bottom – and its high grade of 35% potassium chloride.
Kore envisions a 2.2-million-tonne-a-year operation over a 33-year mine life.