Business
Infrastructure Build Continues with Gas Line and Power Plant Development for Mayumba Further De-Risking the Millennial Potash Project
Vancouver, British Columbia--(Newsfile Corp. - July 5, 2023) - Millennial Potash Corp. (TSXV: ML...
About this update from Millennial Potash Corp
[{"type":"text","content":"Infrastructure Build Continues with Gas Line and Power Plant Development for Mayumba Further De-Risking the Millennial Potash ProjectVancouver, British Columbia--(Newsfile Corp. - July 5, 2023) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) (\"MLP\", \"Millennial\" or the \"Company\") is pleased to provide an update on additional infrastructure build-up in the Mayumba region near the Company's Banio Potash Project. The Gabonese government, Perenco Oil & Gas Gabon (\"POGG\"), and Gabon Power Company signed a Memorandum of Understanding on April 6th, 2023, for the development of a 21MW power plant to be powered by natural gas, and the installation of a gas collection network and treatment facility, with a 32km gas pipeline to the town of Mayumba. The power plant is designed to meet electricity needs in rural areas as well as future domestic and industrial electricity needs of the Mayumba region.Farhad Abasov, Millennial's Chair, commented, \"Millennial is pleased to report that the infrastructure build-up continues in the Mayumba area with this announcement of a thermal power plant and associated gas pipeline development. Combined with the commitment of the Gabonese government through its Grande Mayumba partnership for port construction this power plant and associated infrastructure would significantly de-risk a potential future mining, and processing as well as shipping operation. The new planned infrastructure will provide reliable energy supply, create job opportunities, and promote economic growth in the Mayumba area. We support the Gabon government and its infrastructure efforts in the region and will update our shareholders as these initiatives advance. All these infrastructure programs will considerably enhance Millennial's ability to explore and develop its flagship potash project in the area.\"The Mayumba thermal gas power plant will be supplied with natural gas through a pipeline and associated equipment linking offshore oil fields operated by POGG. The thermal power plant will have an installed capacity of 21MW but will be expandable to 50MW. A transformer station will be situated at Mayumba with a 20kV distribution line, and a transmission line will be constructed to the town of Tchibanga approximately 70km east of Mayumba as part of the government's initiative to provide electricity to southern co...