Kore (ASX:KP2) get fertile support for Congo potash
August 22, 2023As a sign of the growing importance of global food security, Kore Potash has received backing from the Republic of Congo’s Ministry of Mines for the development of its 97%-owned Kola and DX Potash Projects in the nation’s Sintoukola Basin.
The high level of support encourages Kore’s shareholders to support Kore Potash in its development endeavours.
Kore Potash Chairman David Hathorn said the successful development of globally essential potash projects such as Kola requires sustained support from all stakeholders.
“We are pleased that the Government of the Republic of Congo appreciate the timeframe and the scale of international investment required to develop a potash industry and that it is expressing its support publicly,” Mr Hawthorn said.
“The Kola deposit, in particular, is a globally vital potash resource that 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 the Republic of Congo,” he added.
Planned Kola development milestones
- Financing site visits to Kola during August 2023 and September 2023.
- Completion of the engineering design works required to support an EPC contract proposal before the end of December 2023.
- EPC Contract offer to be made to the Company during January 2024.
The financing proposal for the entire construction cost of Kola will be provided to the Company by the Summit Consortium within six weeks of EPC terms being finalised.
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