Business
Pledge of support from the Ministry of Mines
Pledge of support from the Ministry of Mines.
About this update from Kore Potash Plc
[{"type":"text","content":"\n\n21 August 2023\n \nKORE POTASH PLC\n \nPledge of support from the Ministry of Mines\n \nKore Potash plc, ( \"Kore\", \"Kore Potash\" or the \"Company\") the potash development company with 97% ownership of the Kola and DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo (\"RoC\"), is pleased to announce that it has received a further letter of support from the Ministry of Mines of the Republic of Congo (the \"Ministry\" or \"Ministry of Mines\") in relation to the Company's development of the Kola Potash Project (\"Kola\" or the \"Project\") following recent discussions with the Ministry.\n \nHighlights of the letter\n· Minister of Mines pledges further support for Kore Potash to continue to develop Kola and Dougou.\n· Ongoing title to Mining tenements re-confirmed.\n· Confirmation that the Mining Convention remains in effect.\n· The Minister encourages Kore's shareholders to support Kore Potash in its development endeavours.\n \nMr David Hathorn the Chairman of Kore Potash plc said: \"The successful development of globally important potash projects such as Kola requires sustained support from all stakeholders. We are pleased that the Government of the Republic of Congo (\"Government\") appreciate the timeframe and the scale of international investment required to develop a potash industry and that it is expressing its support publicly.\"\n \n\"The Kola deposit, in particular, is a globally important potash resource that needs to be developed to play its role in feeding the world's population. Its successful development will have a material contribution towards the sustained development of the Republic of Congo.\" he added.\n \nLetter from Minister of Mines\nThe Minister of Mines has written a letter to Kore Potash that pledges the Ministry and the Republic of Congo's support for Kore's development of its projects at Kola and Dougou (\"Projects\").\n \nThe Minister acknowledges that some of the development objectives for the Projects, as outlined in the Mining Convention, have not yet been met. He also assures the Ministry's steadfast support, in the form of a moral guarantee, to assist in addressing remaining challenges to completing the financing of Kola. The Minister reaffirms the validi...