Business
Q1 Activities Update
Q1 Activities Update.
About this update from Emmerson Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6574G\n Emmerson PLC\n 31 March 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n Emmerson Plc / Ticker: EML / Index: AIM / Sector: Mining\n \n \n 31 March 2022\n \n \n Emmerson Plc ('Emmerson' or the 'Company')\n \n \n Q1 Activities Update \n \n \n \n \n \n Emmerson, which is developing the world class Khemisset Potash Project in Morocco ('Khemisset' or the 'Project'), is pleased to provide an update on its corporate and operational activities for Q1 2022.\n \n \n \n \n \n Q1 2022 Key Events and Deliverables:\n \n \n \n \n \n · \n War in Ukraine has highlighted the importance to global food security of bringing on new sources of potash for fertilizer production, particularly in reliable well-situated locations such as Morocco; \n \n \n · \n Continued work to advance the Khemisset Project towards construction, including a programme of drilling to provide further information for the design of the declines and other underground structures, and to provide more data on the orebody; \n \n \n · \n Basic Engineering Package awarded to Reminex SA, a respected Moroccan engineering company that is part of the Managem SA group;\n \n \n · \n Environmental approval process continues to progress towards the final awarding of the permit; \n \n \n · \n Discussions with financing partners progressing well, with strong interest on both debt and equity;\n \n \n · \n Appointment of Liberum Capital Limited as a joint corporate broker;\n \n \n · \n Appointment of Mr Jim Wynn as Chief Financial Officer; and\n \n \n · \n Continued engagement with Moroccan authorities to enhance the strong relationship between Morocco and the UK and to underline the benefits of the Khemisset project to local and national stakeholders.\n \n \n \n \n \n Global potash market\n \n \n The war in Ukraine is bringing about a wide range of global consequences, the most important and immediate of which are humanitarian, for those most directly affected by this catastrophe. It is also having a major impact on the global potash market, as 38% of the world's recent potash supply has originated from Russia and its ally Belarus. Russia and Ukraine are also, under normal circumstances, major wheat exporters. With food security an increasing concern in the context of rising wheat and other agricultural commodity price...