MagIndustries optimistic over Kouilou timeline

摘要

MAGINDUSTRIES IS confident that it will secure the remaining finance needed for its Kouilou potash mine in the Republic of Congo (ROC) by the third quarter of this year. The full construction cost of the proposed 600,000 mt/year solution mine is currently $800 million. Rich Morrow, Vice president for Toronto-based MagIndustries Corp. told FERTILIZER WEEK that associated costs, such as insurance premiums, fees and capital interest, bring the total consideration for Phase 1 to $1.1 billion. In Phase 2 of the project, the capacity of the mine will be expanded to 1.2 million mt/year, possibly in 2013, and this will require an additional $450-500 million.