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Rabat – UK-based Potash developer Emmerson announced on Monday the signing of two non-binding Memoranda of Understanding (MoU) to sell potash and salt from its mine in Khemisset.
Emmerson said in a statement that the first MoU was signed with Belgium financial service company Keytrade. The deal covers a minimum of 245,000 metric tonnes per year of muriate of potash for a period of 10 years.
Muriate of potash (MOP) is a mineral used for a wide range of industrial purposes including the manufacturing of fertilizer.
The second entity to sign an MoU with Emmerson is Zurich-based investment firm Hexagon Group for the sale of at least 245,000 metric tonnes per year of MOP, and a minimum of 500,000 metric tonnes per year of salt product, over the duration of 10 years.
According to the company’s statement, the MoUs are non-exclusive as Emmerson says it would continue to negotiate with other customers, distributors, and traders for the remaining production capacity from the Khmisset mine.
Commenting on the signing of the MoUs, Emmerson’s Chief Executive Officer Graham Clarke said: “I am delighted to present our first offtake memoranda of understanding to the market as we continue our process of advancing towards construction readiness at Khemisset.”
The company says that the memoranda are an “important milestone” in the development of the Khemisset mine, and would cover more than 65% of muriate of potash production and 50% of salt production.
Emmerson’s operations in Morocco enjoy a positive outlook, Clarke argues. There is “also a clear signal of the critical importance of potash in the context of international food security, and we look forward to advancing further negotiations as we continue to lay the foundations for establishing Africa’s first commercial potash mine.”
Read Also: British Company Emmerson To Launch Potash Factory in Morocco
