Kore Potash PLC (AIM:KP2, ASX:KP2, JSE:KP2) CFO Andrey Maruta talked with Proactive at the first One2One Investor Forum about the company’s recent progress, focusing on its flagship Kola potash project in the Republic of Congo.
Maruta outlined the fixed-price $1.9 billion EPC contract signed in November 2024 with Power China, one of the world’s largest construction companies. This agreement ensures a clear timeline and cost controls for developing the high-grade potash mine.
The Kola project, expected to begin construction in early 2026, is positioned to be one of the lowest-cost potash producers globally. With a projected annual output of 2.2 million tons over a 33-year mine life, the project strategically targets the Brazilian market, one of the largest potash importers in the world, as well as high-value African markets.
Maruta also highlighted the project's logistical advantages, including its proximity to key markets, and detailed the company’s plans for a dedicated jetty and conveyor system to optimise transport.
Kore Potash expects to finalise financing arrangements through Summit Africa, which is preparing a term sheet for the $2 billion project by February 2025.
"The fixed-price contract with Power China eliminates cost escalation risks," Maruta noted, emphasising the significance of the partnership in ensuring project success.
