First New Entrant to the Potash Industry
The Mengo Project is a greenfield potash project under development in the Republic of Congo (ROC), with an initial annual designed capacity of 1.2 tonnes per year.
The future operation is expected to be the world’s first new entrant into an industry which has seen relatively little new greenfield supply over the past thirty years. In our view access to capital will the single most significant factor determining which proposed potash projects make it into production and we believe that through our majority shareholder we will have access to long term financing at competitive rates. Additionally, the Project’s feasibility study calculates that Mengo’s FOB potash costs will be among the lowest in the world. Coupling the long term growth outlook for potash with distinct competitive advantages based on access to capital, operating costs and location, MagMinerals is positioned to generate significant returns for MagIndustries’ shareholders in the coming years