leadf
logo-loader
viewEmmerson PLC

Emmerson PLC - Completion of ESIA for Khemisset Potash Project

RNS Number : 6969F
Emmerson PLC
18 November 2020
 

Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining

18 November 2020

Emmerson Plc ("Emmerson" or the "Company")

Completion of Environmental and Social Impact Assessment

 

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce that it has completed the baseline and all of the workstreams required for the Environmental and Social Impact Assessment ("ESIA") for its Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project").  The ESIA package will now be submitted to the relevant governmental bodies for approval.

 

The ESIA package comes as a capstone to two concurrent phases: an extensive baseline  programme, which commenced in the early stages of the Project development; and the ESIA study, which commenced in early 2020 (See RNS dated 20 January 2020). The project team, in partnership with Moroccan headquartered firm Phénixa S.A.R.L. ("Phénixa"), has consulted the various project stakeholders at every stage and inventoried the applicable Moroccan legislation.

 

The related workstreams have been completed in compliance with International Finance Corporation ("IFC") Performance Standards and the Equator Principles. These standards are the global benchmark for the development of mining projects and complying with them is vital for mining projects, especially those seeking finance from international capital providers.

 

The Company vision of doing the right things in the right way is translated to effective actions in the ESIA workstreams.  Findings of the baseline investigations have been integrated in the ESIA and the proposed monitoring programmes.  These are planned to be reflected in the final project design in the forthcoming FEED ("Front End Engineering Design") so that positive impacts are maximised and negative impacts are minimised in the construction, operation, and closure stages.

 

Graham Clarke, CEO of Emmerson, commented:

"We have said that we want to do the right things in the right way, with no exceptions. The ESIA has been done to the highest standard recommended by the World Bank, with no corners cut. It is the culmination of two years of studies and monitoring in the field and is a piece of work that everyone involved can be proud to have delivered.  The environmental and social impact of a new major project is of real importance to any company that concerns itself with maintaining a record of sustainability. We are confident that the results of our work will demonstrate that Khemisset is going to be accepted as an important new potash mine to the benefit of Morocco and the shareholders of Emmerson.  I am grateful to the dedication of all those who were involved in producing this excellent report."

 

**ENDS**

 

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact: 

 

Graham Clarke

Edward McDermott

Emmerson plc

+44 (0) 20 7236 1177 

 

Jerry Keen

Toby Gibbs

John More

 

Shore Capital

 

 

+44 (0)20 7408 4090 




Damon Heath

Isabella Pierre

Shard Capital

+44 (0) 20 7628 3396

 

Megan Denison

Susie Geliher

 

St Brides Partners Limited

Financial PR/IR

 

+44 (0)20 7236 1177

 

 

 

 

Notes to Editors

Emmerson's primary focus is on developing the Project located in Northern Morocco.  The Project has a large JORC Resource Estimate (2012) of 537Mt @ 9.24% K2O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine. Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the Project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents. The Feasibility Study released in June 2020 indicated Khemisset has the potential to be among the lowest capital cost development stage potash projects in the world and also, as a result of its location, one of the highest margin projects. This delivered outstanding economics including a post-tax NPV10 of approximately US$1.4 billion using industry expert, Argus', price forecasts.

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBPBFTMTIBMLM

Quick facts: Emmerson PLC

Price: -

Market: LSE
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Emmerson completes ESIA assessment for Khemisset potash project, with...

Emmerson PLC (LON:EML) Graham Clarke talks to Proactive London about the completion of the their work streams required for the ESIA Khemisset potash project in Northern Morocco. Clarke says the project is now on track for approval in early 2021, 'once we key the key piece of the jigsaw to be...

5 days, 10 hours ago

5 min read