African Potash

African Potash is a mining company, focused on building a platform for the mining, production and distribution of fertiliser. Its operations are primarily focussed on potash assets within the African continent. It has a market capitalisation of approximately £0.9 m as of 20 April 2017.

Block Commodities
TypePublic Limited Company
AIM: AFPO
IndustryMining
FoundedSeptember 2011
Key people
Chris Cleverly, Mark Simmonds, Lord Peter Hain, Elias Pungong
ProductsFertiliser

History

In August 2015, African Potash entered into a trading agreement with the Common Market for East and Southern Africa (COMESA) to supply and deliver at least 500,000 metric tonnes of fertiliser on an annual basis for an initial three-year period.

On the 26 October 2015, African Potash announced the appointment of former Conservative party Member of Parliament, Mark Simmonds to its board.[1] Two days later, former Cabinet Minister Peter Hain joined the Board.[2]

Operations

Lac Dinga Project

The Lac Dinga Project is located in the Kouilou extending 57 km NW-SE. It is adjacent to the Dougou Potash Deposit, part of the Sintoukola Potash Permit held by Elemental Minerals Limited and which has a JORC compliant measures and indicated mineral resources of 1.1Bt grading 20.6% KCI. The Makola licence of Evergreen Resources Holdings (BVI) Ltd is also located in the region.

The development of its fertiliser trading operations build upon its 70% interest in the 702.5 km2 Lac Dinga,[3] which it acquired in February 2013. Exploration conducted at Lac Dinga to date has confirmed the presence of multiple potash seams with individual sample grades of up to 25% KCl (~15.8% K2O). Results received to date indicate that the Project host potash mineralisation consistent with the Congolese coastal basin, with about 250km2 of the licence area interpreted to be underlain by salt-bearing strata, underpinning the potential to host significant commercial potash deposits.

COMESA Trading Agreement

In August 2015, African Potash entered into a trading agreement with COMESA and MACFF, signed by the Secretary General of COMESA, Sindiso Ngwenya. Under the terms of the agreement, it will supply and deliver at least 500,000MT of fertiliser to off-takers identified and introduced by COMESA for an initial 3-year period. Since signing the agreement, African Potash has secured multiple agreements to supply 50,000MT of fertiliser to Zambia, 50,000MT to Malawi, 150,000MT to Zimbabwe and 150,000MT to the DRC.[4][5]

Directors
  • Chris Cleverly - Executive Chairman
  • Peter Hain - Non-Executive Director
  • Mark Simmonds - Non-Executive Director
  • Elias Pungong - Non-Executive Director.[6]

References
  1. "African Potash appoints former politician to board". MINING.com. Retrieved 2 November 2015.
  2. Welsh, Tom. "City Moves for 29 October 2015 - Who's switching jobs". cityam.com. Retrieved 2 November 2015.
  3. "African Potash".
  4. "Looming storm trims gains made by commodity stocks". Telegraph.co.uk. 1 October 2015. Retrieved 2 November 2015.
  5. "African Potash surges after signing second fertiliser supply deal". Yahoo Finance UK. 1 September 2015. Archived from the original on 16 October 2015. Retrieved 2 November 2015.
  6. Natalie Greve. "African Potash adds Oxford alum, EY partner to board". Mining Weekly. Retrieved 2 November 2015.
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