MagIndustries Corp. has announced that its subsidiary company MagMinerals has obtained the right to mine for potash in Congo for 25 years. Therefore, MagMinerals will be able to carry out potash mining in the Kouilou region and establish a 1.2 million ton per year potash fertilizer project. The site where MagIndustries chose to build the 1.2 million ton per year potash project is located 16km away from Congo’s important Atlantic deepwater port city of Pointe-Noire. This potash plant will be close to a salt plant, which now operates five commercial salt wells. MagIndustries has completed the feasibility study for its first phase project. According to the feasibility study report, a 600,000tpy granular K60 potassium carbonate unit will be built. With accounting costs excluded, the budget into this first phase project is USD 723 million. Upon the completion of the first phase project, MagMinerals will build another similar potassium carbonate plant to finally bring the project’s annual capacity to 1.2 million tons a year.
