Emmerson PLC’s Morocco potash project on track to launch construction
Potash is a key ingredient in fertilizer production and demand for it is on the surge globally to meet increasing food needs.
The London-listed company will start construction of the mine and related infrastructure at the end of 2021 for a total cost of $400 million, Clarke told Reuters.
Production is expected to start in 2023, he said. Morocco is itself a potash importer and the mine will help supply the domestic market and beyond.
“With the low capital cost and high margins, the company will generate the payback period in three-five years depending on the potash price,” Clarke told Reuters.
In August, the company released a study showing that the project will create 760 direct jobs, increase Moroccan mineral exports by 8% and generate up to $63 million a year in taxes.