Proactive Investors - Run By Investors For Investors

Kore Potash surges as ESIA for Dougou project is approved

The company remains focused on the development of the nearby Kola sylvinite deposit and currently has not formalised a development plan for Dougou
Potash fertilister
The application for the ESIA was submitted on 26 August 2016

The environmental and social impact assessment (ESIA) for Kore Potash PLC’s (LON:KP2) Dougou mining licence has been approved.

Approval of an ESIA is a prerequisite to commencing construction of a mining project in the Republic of Congo, Kore said.

READ: Kore Potash adds 20% to indicated resource in Republic of Congo

The Dougou mining licence is adjacent to the company’s flagship Kola project.

The ESIA authorises the development of the potential mining project at the Dougou carnallite deposit and could be extended in future to include the Dougou extension sylvinite deposit.

The permitting for the development of the Dougou deposits creates the potential to use potash from these deposits to increase the production rate or extend the project life at the nearby Kola Project, currently the subject of a definitive feasibility study.

"Kore Potash's mining licences in the Republic of Congo have the potential produce potash for the global market at very low cost for generations, and it is pleasing to have achieved another important milestone with ESIA approval for the Dougou mining licence,” said Brad Sampson, the chief executive officer of Kore.

"The company's key strategic ambition is to bring the flagship Kola project into production, and it is important to keep the potential scale of the potash basin in mind.

"Following completion of the definitive feasibility study for the Kola Project, the company intends [to] further assess the strategic options to unlock the value of the Dougou deposits," Sampson said.

Shares in Kore Potash were up 4.3% at 4.9p.

View full KP2 profile View Profile

Kore Potash Timeline

Related Articles

August 08 2018
The company recently drilled 18 holes, totaling 2,437.5 metres in eight separate prospect areas at its Alvito Iron Oxide Copper-Gold (IOCG) project
Chris Giles signs the Kalkaroo Native Title Mining Agreement
January 15 2019
Kalkaroo is Australia’s largest undeveloped open pit copper-gold deposit on a copper-equivalent basis.
A diamond drill rig at Australian Vanadium project
The company's flagship project has a US$616 million value at a US$13 per pound vanadium price.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use