Emmerson plc said it is still awaiting a decision on its resubmitted environmental study for the Khemisset fertiliser project (KMP) in Morocco.
Graham Clarke, chief executive, said the new processing route presented in the application cuts water consumption by 50% and eliminates the need to dispose of brines, which has significantly boosted the project's economics.
“We are currently awaiting the outcome of the latest review, following the upholding of the company's referral which resulted in the matter being returned to the Commission Régionale Unifiée d'Investissement for reconsideration, and will provide an update as soon as we hear news," Clarke added.
If approval is received, Emmerson said it would complete the remaining studies on the KMP, leading to an updated bankable feasibility study (BFS) based on the original 2020 Feasibility Study.
Due diligence with financiers will commence in parallel as far as possible but will need to await the completion of the BFS, and review of its findings, before it can be concluded, the company added.
Emmerson posted a loss of US$2.99 million in the year to end December 2023 (US$3.2 million).