The license provides the Company with the exclusive right to develop and mine the potash deposit in the Khemisset basin ahead of the anticipated initiation of construction by the end of 2021, the company said in a statement.
A Feasibility Study has shown Khemisset’s outstanding attributes including industry leading capital and operating costs and delivered an initial mine life of 19 years, based on less than 50% of the global resource base for the Project.
“By producing up to 800,000 tons of potash per year, for export or domestic consumption, Khemisset is forecast to deliver considerable economic benefits to our stakeholders including an anticipated 1% increase to the national tax revenues of Morocco. At the local level, the benefit to our stakeholders is even more important, with an estimated 40% increase to the local area GDP,” head Graham Clarke of Emmerson PLC said.
The license provides for an initial 10-year period, which is renewable in 10-yr increments until the resource is exhausted and provides exclusive rights to extraction.
Potash is a key ingredient for making fertilizers and the same mine is expected to produce up to 1 million tons of de-icing salt.