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Millennial Potash targets 2029 start at Banio potash project in Gabon

The company plans to finish a definitive feasibility study by year end and could move toward a final investment decision in early 2027.

Reported · Written up by our desk · Mining

Millennial Potash is targeting a 2029 production start at its Banio potash project in southwest Gabon, as the company advances a definitive feasibility study. Mining.com reports that the project is positioned as a potential new source of supply for Africa, the United States, and other major agricultural markets.

The company expects to complete the definitive feasibility study by the end of this year, with a path toward a potential final investment decision in early 2027. The study is examining solution mining and could consider a larger operation than the 800,000 tonnes per year referenced in the project’s preliminary economic assessment.

Mining.com says the US International Development Finance Corporation has provided $3 million toward the project’s feasibility work and has expressed interest in financing construction.

The company’s chief executive, Farhad Abasov, said it could look at larger scales or different options, citing interest from potential offtakers and some large funders, according to Mining.com.

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