Libreville, Gabon — 15 January 2026 (AGP) – Millennial Potash Corp has initiated a definitive feasibility study for the Banio potash deposit in Gabon, a project backed by the U. S. -based Development Finance Corporation (DFC) with a $3 million grant, according to a press release from the Gabonese press agency, Agence Gabonaise de Presse.
The study, which is being conducted by the German consulting firm ERCOSPLAN, aims to validate a “solution mining “model with an initial production target of 800,000 tonnes per year. This follows recent resource estimates that put the deposit at 2. 45 billion tonnes, reinforcing its strategic potential.
Millennial Potash Corp aims to complete the technical and financial aspects of the project by the second half of 2026, with the intention of officially submitting a mining permit application to the Gabonese government. Company president Farhad Abasov highlighted that this feasibility study will be conducted in parallel with the Environmental and Social Impact Study (EIES), a crucial step for the project’s implementation.
The initiation of the feasibility study marks a significant development for the Banio deposit, which has the potential to position Gabon as a major player in the international fertilizer market and contribute to the diversification of the national economy.
Further details regarding the project’s progress and environmental considerations are expected as the study unfolds.
*Additional reporting by ImNews | Sources consulted: 5*
