Millennial Potash Corp (TSX-V:MLP, OTCQB:MLPNF, FRA:XOD) said that it welcomed Gabon’s Minister of Mines and Geological Resources, Sosthene Nguema Nguema, and a delegation from the ministry during the Prospectors & Developers Association of Canada (PDAC) conference held in Toronto from March 1 to 4.
According to the company, the minister used the conference to communicate Gabon’s interest in attracting mining investment as the country seeks to diversify its economy beyond oil and gas and support the responsible development of its natural resources.
Millennial chair Farhad Abasov said the company hosted the minister and the delegation during the event, where officials from Gabon’s Ministry of Mines and Geological Resources held meetings with industry participants.
“We were very pleased to host Minister Nguema and the high-level Gabonese delegation from the Ministry of Mines and Geological Resources at the PDAC conference in Toronto,” Abasov said in a statement.
“The Gabon Ministry team had numerous successful meetings and progressed in conveying their message that Gabon is very supportive of mineral resource development.”
During the conference, the minister also met with Canadian and US investment banking groups, other financial institutions, and several media organizations. The discussions focused on Gabon’s openness to investment aimed at creating economic value in the country, the company said.
Millennial noted that the minister highlighted the company’s Banio potash project as an example of project development in Gabon, citing support from the US International Development Finance Corporation.
Millennial is developing Banio in Gabon, which has a measured mineral resource estimate of 648.2 million tonnes grading 15.7% potassium chloride (KCl), an indicated resource estimate of 1.8 billion tonnes grading 15.6% KCl, and an inferred resource estimate of 3.56 billion tonnes grading 17.6% KCl.
The company said it has begun a definitive feasibility study (DFS) and an environmental and social impact assessment (ESIA) for the project. Both studies are expected to be completed in the second half of 2026 and will be submitted to the Gabon government as part of the company’s application for a mining license.
“We look forward to the Gabonese government's continued support as we expect to complete our DFS and ESIA in 2026 to support our application for a mining license,” Abasov concluded.