Head of Emmerson PLC Graham Clarke, a Morocco focused potash company, said that preparations are on track to launch Africa’s largest potash project in Khemisset (95 km east of Rabat)Potash is a key ingredient in fertilizer production and demand for it is on the surge globally to meet increasing food needs. The London-listed company will start construction of the mine and related infrastructure at the end of 2021 for a total cost of $400 million, Clarke told Reuters. Morocco is itself a potash importer and the mine will help supply the domestic market and beyond. “With the low capital cost and high margins, the company will generate the payback period in three-five years depending on the potash price,” Clarke told Reuters. In August, the company released a study showing that the project will create 760 direct jobs, increase Moroccan mineral exports by 8% and generate up to $63 million a year in taxes.

Source: The North Africa Journal November 09, 2020 17:26 UTC