- Kore Potash (KP2) has received environmental approval for two potash mines in the Congo
- Kore received the green light for their Dougou and Kola mining licenses on March 31
- The approvals are valid for 25 years
- Previously, the environmental approvals had to be submitted annually
- Kore Potash is trading flat today, trading for 1 cent per share
Kore Potash (KP2) has received environmental approval for two potash mines in the Congo.
The Dougou and Kola mining lease permits have been approved by the Ministry for Tourism and Environment of the Congo and are valid for 25 years.
The company expects the extension of the Dougou site to fast track production and positive cash flow.
The larger and more ambitious Kola project is not currently being developed, as Kore has expressed the desire to start small before diving in.
These approvals ticked off the environmental and social impact assessments for each mine, and the approval significantly loosens regulatory requirements for period compliance reports.
Previously, annual reapproval was required for each mining assessment.
The company says it expects the pre-feasibility study on the Dougou mine extension to be completed this quarter.
CEO of Kore Potash, Brad Sampson, says he was pleased the 25 year period would now align with the timeframe of the convention between Kore and the Government of Congo.
“This offers improved certainty for all parties and stakeholders. As we progress the development of the Dougou project and move towards first potash production we will apply for amendments to the Dougou assessment as part of the extensive permitting process,” Brad stated.
“We are particularly mindful of the Governments support during the difficult current global situation with COVID-19,” he continued.
In response to COVID-19, Kore has temporarily closed its office in the Congo, and all staff who are able to do so are working from home.
Kore Potash is trading flat today, trading for 1 cent per share at 10:21 am AEST.