Business
Commencement of Socio-Economic Impact Study
Commencement of Socio-Economic Impact Study.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nRNS Number : 0795D Emmerson PLC 17 February 2020 \n\nEmmerson Plc / Ticker: EML / Index: LSE / Sector: Mining\n17 February 2020\nEmmerson Plc (\"Emmerson\" or the \"Company\")\nCommencement of Socio-Economic Impact Study\nto Confirm Khemisset as Project of National Significance\n \nEmmerson Plc, the Moroccan focused potash development company, is pleased to announce that it has commenced a Socio-Economic Impact Study (''Study'') for its Khemisset Potash Project in Northern Morocco (\"Khemisset\" or \"the Project\"). Khemisset is a potentially world class potash development asset and is expected to have industry leading low capital cost to production and among the highest margins in the potash industry resulting in compelling economics including a post-tax NPV10 of over US$1.1 billion using industry expert price forecasts.\n \nHighlights\n· Study provides an important data point for the potential positive impacts of the development of Khemisset in the local region\n· Study becomes an integral part of the process of negotiation for government subsidies and tax concessions under the investment convention for which Emmerson is eligible\n· Given the large scale of the Project, its expected profitability, mine life and the relatively high levels of unemployment in the region, the Company expects Khemisset will be recognised as having a significant impact\n· Study will examine expected impacts in the local area, the broader Rabat-Kenitra-Sale region and for Morocco as a country\n· Study will examine direct impacts as well as indirect and induced impacts to assess the socio-economic multiplier effect of the Project\n· Study is not officially required under any of the permitting processes in Morocco, but it is designed, as is the practice for mining projects, to act as a tangible proof for the positive socio-economic impact of the Project\n· Appointed renowned Professor in Economics, Dr Sallem Koubida, to study the immediate and ongoing economic impacts which would be expected from Khemisset\n \nHayden Locke, CEO of Emmerson, commented: \"Throughout the multiple discussions we have had with government bodies and community representatives at various levels, it was clear that Khemisset is highly significant in terms of its expected...