Gabon’s Banio Potash Deposit Valued at $1.07B

Mining firm Millennial Potash has announced that its Banio Potash Project in Gabon holds an estimated post-tax net present value of $1.07 billion. The mine also has a projected capital expenditure of $480 million.

The project aims to produce 800,000 tons per year of granular Muriate of Potash over a 25-year mine.

To support the project’s development, Millennial Potash has secured approximately $2.55 million in funding for further exploration and development activities.

The Banio deposit contains 657 million tons of potash resources confirmed at a grade of 15.9% KCl and an additional 1.159 billion tons estimated at 16.0% KCl. Recent drilling has intersected over 250 m of potash-rich seams, suggesting the potential for expansion.

Infrastructure work at the project includes the construction of the Mengali Port and a thermal power plant near Mayumba. The port will support potash exports, while the power plant – developed through a public-private partnership – is expected to start with a capacity of 8.5 MW, with plans to expand to 50 MW.