Emmerson plc, the Moroccan focused potash development company, is pleased to provide an update on progress made at its world class Khemisset Potash Project (the ‘Project’) in Morocco during the first six months of 2021.

Overview

• Environmental approval process reaching completion.
  • All technical work completed, submissions made, and review meeting held with the Environmental Evaluation Committee (“EEC”) (referred to in Morocco as the ”Commission Regionale Unifiée de l’Investissement”).
  • Public enquiry process completed successfully with full support from local stakeholders.
  • Continue to work in accordance with the process of the governmental entities that are members of EEC.
  • Awaiting final approval to be called for the evaluation meeting by the EEC, expected to be received imminently, subject to COVID restrictions in Morocco.
• Lodged applications for renewal for the remaining research permits that were not part of the Mining Licence area, with a positive outcome expected in Q3 2021.
• Completed geological work to further improve understanding of the general structures, update various geological plans and maps and, advance the Deep Well Injection plan.
• Completed a work programme and commenced a tender process for technical field works with the objective of addressing risks and recommendations identified in the FS as well as preparing the data set to be used in the engineering design workstreams.
• Completed work relating to the technical aspects of the design and engineering to take the Project towards construction readiness.
• Confirmed initially indicated power cost savings and secured preferred supply option following detailed discussions with several renewable energy providers in Morocco.
• Commenced FS for the Sulphate of Potash project with a view to diversifying product offering and enhancing margins.
• Project team continues to be strengthened in preparation for the engineering design and construction phase.
• Ongoing strategic partner discussions and debt funding due diligence.
• Altogether, the planned workstreams are on course to meet the target of commencing early construction work by year end.

Graham Clarke, CEO of Emmerson, commented:

“Excellent progress has been made on many fronts as we look to fast-track the Project to production and take advantage of the strong potash market fundamentals, particularly in Africa given we are ideally located to supply this market.

“I would like to take this opportunity to thank the team and our consultants for the exceptional work that has brought our ESIA application to the final step of approval, particularly when the impact of COVID on the ability to conduct face to face meetings is taken into account.

“Notably, we are also continuing positive discussions with strategic investors and due diligence for the wider project debt finance, as we focus on achieving our overall timeline to commence early construction works in Q4 2021.”

In the film below CEO Graham Clarke outlines the potential of the Khemisset potash project and its impact on the local economy