Kore Potash PLC Dedicated Offshore Transhipment Area Licenced (4812A)
12 September 2018 - 4:01PM
UK Regulatory
TIDMKP2
RNS Number : 4812A
Kore Potash PLC
12 September 2018
12 September 2018
Kore Potash plc
("Kore Potash" or the "Company")
Dedicated Offshore Transhipment Area Licenced
Kore Potash plc, the potash development company whose flagship
asset is the 97%-owned Sintoukola Potash Project ("Project") in the
Republic of Congo, is pleased to announce the approval of a licence
for the transhipment of potash and the discharge of waste brine in
a dedicated offshore area (the "Offshore Area").
Highlights
-- A licence for the Company to use an Offshore Area for the
transhipment of potash and the discharge of waste brine has been
authorised by the Minister of Transport, Civil Aviation and
Merchant Marine of the Republic of Congo (the "Maritime
Authorisation").
-- The licence approves the transhipment location in what is considered the optimum location.
-- This Maritime Authorisation is one of the pre-requisites to
commencement of construction of offshore infrastructure in the
Republic of Congo.
-- This Maritime Authorisation relates to the Kola Project and
to the Dougou and Dougou Extension Projects, is granted for
twenty-five (25) years and renewable for the life of the
projects.
-- This Authorisation represents another important step forward
towards the development of the Kola Project.
Brad Sampson, CEO of Kore Potash, commented:
"The license to operate the transhipment activities is one of
the key approvals required for the development of the Kola Project
and permission to build and operate a dedicated jetty is vital to
optimising the operating costs of the Project."
Authorisation for Maritime Public Domain Occupancy
The Maritime Authorisation approved by the Minister of
Transport, Civil Aviation and Merchant Marine of the Republic of
Congo was issued to the Company on 6 September 2018.
The Authorisation covers the Kola, Dougou and Dougou Extension
projects, is valid for twenty-five (25) years and renewable for the
life of projects.
The Maritime Authorisation is an important licence for the
Company as in addition to approving the optimum location for the
transhipment of potash onto ocean going vessels it also permits the
use of ocean water for waste brine dilution, and, combined with
other licences, ocean disposal of the waste brine.
The Company has completed an environmental impact assessment for
waste brine disposal for which the Company anticipates approval by
the Ministry of Tourism and Environment later this year.
A Project Agreement covering the detailed design and
construction of the offshore infrastructure will be developed
between the Company and the Merchant Marine Authorities after the
completion of the Definitive Feasibility Study for the Kola
project.
Footprint of the Maritime Public Domain
The footprint of the allocated maritime public domain for
transhipment is situated at the Tchiboula coastal area and 11
nautical miles off-shore, immediately South of the Dougou Mining
License.
A version of the announcement containing a map showing Kore's
Projects, Export Facility and Transhipment Location in the Republic
of Congo can be seen at
http://www.korepotash.com/wp-content/uploads/2018/09/Dedicated-Offshore-Transhipment-Area-Licenced.pdf
- ENDS -
Kore Potash Tel: +27 11 469 9140
Brad Sampson - CEO
Tavistock Communications Tel: +44 (0) 20 7920 3150
Jos Simson
Edward Lee
Canaccord Genuity - Nomad and Tel: +44 (0) 20 7523 4600
Broker
Martin Davison
James Asensio
www.korepotash.com
Forward-Looking Statements
This release contains statements that are "forward-looking".
Generally, the words "expect," "potential", "intend, " "estimate,"
"will" and similar expressions identify forward-looking statements.
By their very nature and whilst there is a reasonable basis for
making such statements regarding the proposed placement described
herein; forward-looking statements are subject to known and unknown
risks and uncertainties that may cause our actual results,
performance or achievements, to differ materially from those
expressed or implied in any of our forward-looking statements,
which are not guarantees of future performance. Statements in this
release regarding the Company's business or proposed business,
which are not historical facts, are "forward looking" statements
that involve risks and uncertainties, such as Mineral Resource
estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company
or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties.
Actual results in each case could differ materially from those
currently anticipated in such statements. Investors are cautioned
not to place undue reliance on forward-looking statements, which
speak only as of the date they are made.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
REAUARARWOAKAUR
(END) Dow Jones Newswires
September 12, 2018 02:01 ET (06:01 GMT)
Kore Potash (LSE:KP2)
Historical Stock Chart
From Apr 2024 to May 2024
Kore Potash (LSE:KP2)
Historical Stock Chart
From May 2023 to May 2024