Junior miner Kore Potash Plc, London, majority owner of the Kola and DX Potash projects in the Republic of Congo’s Sintoukola Basin, on Jan. 24 lowered the production target for its 97%-owned DX potash project to 12 years from 30 years.
In the latest production target estimate, it also cut its mineral resource estimate to 129 million mt from 145 million mt. The ore reserve projection has been reduced to 9.31 million mt from 17.7 million mt.
Kore said the production target models the DX project producing 400,000 mt/y via selective solution mining of high grade sylvinite seams. The junior miner reported the capital cost estimate of the project has increased to $315.7 million from the previous estimate of $285.9 million.
“The updated resource further confirms this project to be a low-operating-cost potash operation that can produce approximately 400,000 mt per annum of MOP. What makes DX unique is its low capex and shallow deposit containing high grade potassium chloride, qualities which are very rare in the potash industry,” said Kore Potash CEO Brad Simpson.