Modern Mining September 2022

POTASH

Kore Potash advances the Kola project in RoC AIM-listed Kore Potash’s flagship project Kola Potash, which is advancing towards con struction phase, is set to become one of the key greenfields projects adding diversity to the Republic of Congo’s (RoC) petroleum dominated economy. The country is blessed with large untapped mineral wealth including base-metals, gold, iron and phosphate deposits, but remains largely dependent on oil production to drive its economy.

CEO Brad Sampson.

A s a mining pioneer in the country, Kore Potash will have first mover advantage when it brings its Kola project into production in the next three-and-a-half years and paves the way for other miners, CEO Brad Sampson tells Modern Mining’s Nelendhre Moodley. Kore Potash is an advanced stage mineral explo ration and development company focused on two high-grade projects in the RoC: Kola and Dougou Extension, and is positioned to be among the world’s lowest-cost potash producers given its favourable location, extensive tenements and the high-grade and shallow depth of the deposits. According to Sampson, demand for potash is underpinned by concerns around food security and continuity of supply of fertiliser to feed the world’s growing population, which the United Nations has projected will increase from 7,7-billion in 2019 to 10,9-billion by the end of the century. Sampson explains that, “Recent global events have heightened concerns for food security and continuity of supply of fertiliser to feed the world’s expanding inhabitants. The dramatic increase in the potash price reinforces the need for the develop ment of new low-cost potash production from high quality potash deposits located close to customers, such as our projects in the Sintoukola basin”. Almost 95% of the world’s potash produced is used in farming to fertilise food supply. As a source of soluble potassium, potash is vital to the agricultural industry as a primary plant nutrient.

Potash increases water retention in plants, improves crop yields, and influences the taste, texture, and nutritional value of many plants and consequently the quality of livestock which feed on the plants. “Potash is a critical plant nutrient that enhances quality and crop yield and is essential for grass yield and high-quality feed value associated with live stock. However, aggressive agricultural practices over the years have depleted the nutritional value of the soil, leading to lower crop yields,” Sampson says. Global potash production is estimated at 70-mil lion tonnes per annum and is currently dominated by a few producing nations with Canada, the world’s largest potash producer, accounting for 32% of the world’s total production, accompanied by Russia, Belarus and China, which altogether account for roughly 80% of the world’s potash production. Potash demand is forecast to grow at 2 – 3% per annum and Kore Potash is well positioned to supply into this fast-growing market. “The drivers for potash demand will continue into the foreseeable future, which places the Kola project favourably as we target potash production by 2026,” says Sampson. Kola targets potash production by 2026 Kore Potash recently partnered with SEPCO Electric Power Construction Corporation for the construc tion of its US $1,8-billion Kola project, located in the Sintoukola Basin, a globally significant potash basin in the RoC.

“The drivers for potash demand will continue into the foreseeable future, which places the Kola project favourably as we target potash production by 2026,” says Sampson.

Construction completion is scheduled for 2026.

22  MODERN MINING  September 2022