Advancing Banio project, Millennial Potash gains progress on Gabon port and power plant efforts

HOUSTON (ICIS)–Canadian fertilizer developer Millennial Potash, which is advancing the Banio Potash project in Gabon, announced it has achieved progress at both the Mengali port construction site and the new thermal electricity plant.

The company said the port and power generation station represent critical infrastructure enhancements and are integral for a successful potash project, with the Mengali port a key part of the Grande Mayumba Programme, a joint venture for sustainable development between the Republic of Gabon and the African Conservation Development Group.

Currently international construction firm Covec Gabon is undertaking earthworks for the port with development set to proceed in phases, but it will eventually be able to accommodate barges and landing craft.

Future phases will involve constructing a mineral terminal, storage area, and stacker reclaimer with a conveyor system for loading large ocean-going vessels.

It is expected to provide a vital infrastructure link for the Banio project as it would allow for export of bulk potash to overseas markets.

Millennial said construction has commenced on a thermal power generation station located south of Mayumba, near the airport, with present work including foundation construction within the facility compound.

The power station is scheduled to arrive by barge at Mengali port later this year and is expected to be installed and operational by mid-2025.

The construction of the first phase, with a capacity of 8.5 megawatts, is expected to be completed in July 2025.

The power plant project is under the direction of contractor Nuez et Fils and it is estimated that the total investment will be approximately $125 million.

The company said the new power plant at Mayumba is viewed as a major infrastructure advancement for the region and this new reliable power source is expected to stimulate regional development.

“These infrastructure developments are crucial for advancing the project and enhancing the economic viability of our proposed solution mining and conventional processing methods for potash production. The construction of the port and power plant, along with the associated infrastructure, will significantly mitigate risks related to future mining, processing, and shipping operations,” said Farhad Abasov, Millennial Potash chair.

“Millennial remains committed to supporting the Gabonese government’s efforts to develop infrastructure in southern Gabon and will keep shareholders informed on the progress of these projects.”

The Banio project is in the south-west corner of Gabon, approximately 450 km south of Libreville along the Atlantic coast.

The maiden mineral resource estimate showed an indicated mineral resource estimate of 656.6 million tonnes at a grade of 15.9%, with an inferred mineral resource estimate of 1.15 billion tonnes at a grade of 16%.