Millennial Potash updates on progress at Banio project in Gabon

Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) has provided an update on the significant infrastructure progress at its Banio Potash Project in Gabon, highlighting advancements in the construction of the Mengali Port and a new thermal power plant near the town of Mayumba.

These developments represent critical components of the project’s support infrastructure, aiding in planned potash production and enhancing logistics and processing efficiency.

Mengali update

The Mengali Port is part of the larger Grande Mayumba Program, a joint effort between the Gabonese government and the African Conservation Development Group.

Construction at the port is progressing in stages, with Covec Gabon currently working on earthworks.

The first phase involves constructing a 130-meter quay suitable for vessels with a three-meter draft, which will support barges and landing craft.

In subsequent phases, the quay will extend to over 300 meters, allowing for larger, ocean-going vessels.

Planned upgrades also include a mineral terminal, a storage facility, and a 4,000 tph stacker reclaimer and conveyor system for bulk loading of potash exports.

Thermal power station update

The new thermal power station, a public-private partnership involving the Gabonese government, Perenco Oil & Gas Gabon, and Gabon Power Company, is expected to deliver an initial capacity of 8.5MW, with potential expansion to 50MW.

Situated south of Mayumba, this power facility will enhance energy availability for the Banio Potash Project and support local communities through an extended 20kV distribution line and a transmission line to Tchibanga, located approximately 70 kilometers away.

The station’s initial phase is expected to be complete by July 2025, backed by a total investment estimated at $125 million.

“These infrastructure developments are crucial for advancing the project and enhancing the economic viability of our proposed solution mining and conventional processing methods for potash production,” said Millennial Potash chair Farhad Abasov.

“The construction of the port and power plant, along with the associated infrastructure, will significantly mitigate risks related to future mining, processing, and shipping operations.

“Millennial remains committed to supporting the Gabonese government's efforts to develop infrastructure in southern Gabon and will keep shareholders informed on the progress of these projects."