Emmerson targets Khemisset construction to start this year
Aim-listed potash miner Emmerson says it made significant progress during 2022 and the first quarter of this year on pre-construction technical work streams to bring the Khemisset project, in Morocco, into construction.
These work streams include basic engineering and enhanced water management designs to gain an environmental permit.
For optimal water management, Emmerson has decided to source water from a wastewater treatment plant instead of reservoirs and to use the dry stack tailings storage method.
Moreover, the company appointed a syndicate of leading international and Moroccan banks, including ING Bank, Banque Centrale Populaire and Bank of Africa, to serve as initial mandated lead arrangers.
The banks will coordinate and fund debt financing facilities for the development of Khemisset. Together with UK Export Finance, the companies will lead an Export Credit Agency tranche of $230-million.
CEO Graham Clarke says the company’s efforts to finalise the remaining outstanding items with the relevant authorities in Morocco ahead of the granting of an environmental-impact assessment continue to be rewarded with constructive meetings and encouragement from the various agencies involved.
“I had hoped to be in a position to provide a definitive update on this process, however, the finer technical details of the water management proposals, in particular our use of recycled water from the Khemisset wastewater treatment plant, and our brines and dry tailings solutions, are awaiting final approvals from the environmental and water agencies.”
Clarke adds that it remains Emmerson’s priority to finalise this as quickly as possible in conjunction with the Moroccan authorities with the objective of moving Khemisset into construction this year.
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