Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF) announced that it has initiated a definitive feasibility study (DFS) for its Banio potash project in Gabon, marking the next stage in the project’s development.
Following the completion of a recent mineral resources estimate for the Banio project, the company said it has engaged ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH, a consulting firm specializing in potash projects, to complete an AACE Class 3 DFS. ERCOSPLAN has prior experience in the West African Potash Basin.
The study will assess a solution mining operation with a base production scenario of 800,000 tonnes per year of muriate of potash, as well as alternative scenarios involving higher production rates.
The DFS will also incorporate several technical and trade-off studies, including dissolution testing, hydrogeological analysis, creep testing, evaluations of cold versus hot leaching, port options, and high-purity salt marketing studies.
Millennial stated that the DFS will be conducted in parallel with an Environmental and Social Impact Assessment (ESIA) that is already underway.
Both the DFS and ESIA are expected to be completed in the second half of 2026 and submitted to the government of Gabon as part of the company’s application for a mining license. Additional drilling at the project is also planned.
“The launch of the feasibility study and recently initiated ESIA mark the transition from the exploration to the development stage,” Millennial chair Farhad Abasov said in a statement.
“We look forward to working with ERCOSPLAN as we continue to develop the Banio potash project in preparation for our Mining License application.”
The company indicated that it is fully funded to complete the DFS and related studies, noting that the US International Development Finance Corporation has committed US$3 million toward feasibility study costs.