4 April 2024
KORE POTASH PLC
("Kore
Potash" or "the Company")
Appointment of CEO
Kore Potash, the potash development company
with 97% ownership of the Kola and DX Potash Projects in the
Sintoukola Basin, located in the Republic of Congo, is pleased to
announce the appointment of Mr J. M. André ('André') Baya as Chief
Executive Officer ('CEO') effective from 15 April 2024.
André has over 20 years of experience in the
global mining and agriculture sectors and brings significant
African experience including having held senior positions for
groups with operations in the Republic of Congo. Immediately prior
to joining Kore Potash, André worked as a management consultant,
leading the corporate re-engineering of Fraser Alexander (Pty)
Ltd.'s African subsidiaries and the corporate development of
Fortescue Mining Group's Belinga iron ore project in
Gabon.
Prior to this, André was Country and General
Manager for a variety of global mining corporations including
Sundance Resources, Cominco, Roxgold, Alliance Mining Commodities,
Orezone and Central Copper Resources. Other notable positions
include Chief Operating Officer at Managem Group, the international
Moroccan mining group, where he was responsible for the management
of the Managem Group's operations and development projects across
eight African nations.
Between 1985 and 2001, André spent 15 years in
trade and agriculture, in both technical and managerial roles for
industrial chemicals and agrochemicals businesses in Africa and
beyond.
The position of CEO is a non-Board
role.
David Hathorn,
Chair of Kore Potash, commented:
"To appoint a
CEO with André's experience in both the mining and global
agriculture sectors is hugely exciting and, I believe, demonstrates
the surefooted ambitions of Kore Potash to become a major potash
producer.
"With an
impressive background including over two decades on the African
continent, he will be pivotal in the development of the Kola and DX
projects, and position Kore to supply the world's agricultural
needs and meet the rising demand in the global fertiliser market.
André's deep experience of working in francophone Africa will also
enable Kore to develop vital in-country partnerships and derive
maximum value for stakeholders."
Market Abuse Regulation
Market Abuse Regulation (MAR) Disclosure - The
information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act
2018. Upon the publication of this announcement via Regulatory
Information Service ("RIS"), this inside information is now
considered to be in the public domain.
This announcement has been approved for release
by the Board.
For further information, please visit
www.korepotash.com or
contact:
|
Kore
Potash
David Hathorn - Chairman & Interim
CEO
|
|
|
Andrey Maruta - CFO
|
Tel: +44 (0) 20 3963 1776
|
|
Tavistock
Communications
Nick Elwes Adam
Baynes
|
Tel: +44 (0) 20 7920 3150
|
|
SP Angel
Corporate Finance - Nomad and Broker Ewan
Leggat
Charlie Bouverat
Kasia Brzozowska
|
Tel: +44 (0) 20 7470 0470
|
|
Shore
Capital - Joint Broker Toby Gibbs
James Thomas
|
Tel: +44 (0) 20 7408 4050
|
|
Questco
Corporate Advisory - JSE Sponsor Doné
Hattingh
|
Tel: +27 (11) 011 9205
|
Kore Potash
Kore Potash PLC (AIM: KP2, ASX: KP2, JSE: KP2)
is an advanced stage mineral exploration and development company
that is incorporated in England and Wales and listed on AIM, a
market operated by the London Stock Exchange, the Australian
Securities Exchange (ASX) and the JSE Limited (JSE) in South
Africa.
Through the development of the Sintoukola
potash basin in the Republic of Congo (RoC), Kore Potash is working
to bring a number of globally significant potash deposits into
production. Focus is on two high-grade projects: Kola and
DX.
The Company aims to move quickly to cash
generation from the DX project, which has a modest capital cost and
planned production of 400,000 tonnes per annum of Muriate of Potash
and its adjacent potash projects provide the potential for
long-term potash production district from the area. Kola is
scheduled to follow DX in the Company's development strategy, with
a planned production of 2.2 million tonnes per annum of Muriate of
Potash over 33-year life.
Kore's projects aim to be among the world's
lowest-cost potash producers due to their favourable location,
large size, very high-grade and shallow depth of the
deposits.
The Company's major shareholders include the
Oman Investment Authority (OIA) and global lithium and potash
producer, Sociedad Química y Minera de Chile (SQM). The projects
are well supported by the government of the RoC with whom Kore has
an excellent relationship.
END