Junior miner Kore Potash plc, London, reported that the process to finance its planned Kola potash project in the Sintoukola Basin in the Republic of Congo is advancing in line with a Memorandum of Understanding signed last year (GM April 9, 2021).
The company expects to receive a completed Optimization Study Report and an Engineering, Procurement, and Construction (EPC) contract proposal by the end of first-quarter 2022. Thereafter, it expects to receive a finance proposal from the Summit Consortium for the full construction cost within 60 days.
Kore currently owns 97 percent of Kola, where a 2.2 million mt/y mining operation over a 33-year life is being targeted.