Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Elemental Minerals Secures Environmental Approval For Sintoukola Potash Project 0 comments
    Aug 28, 2013 2:18 AM

    Elemental Minerals (ASX: ELM) has cleared the permitting stages for its flagship Sintoukola Potash project in the Republic of Congo with its receipt of the Environmental and Social Impact Assessment approval.

    This follows the award of the Mining Licence for the project earlier this month as well as the recent extension of its exploration licence for an additional two years.

    "We are extremely excited about the approval of the ESIA for the Sintoukola Potash Project," chief executive officer Iain Macpherson said.

    "This is the second of two key permitting stages and further demonstrates the RoC Government's commitment to the development of mining assets in the region.

    "It also highlights the advanced nature of the engineering, environmental planning and social engagement that has gone into the development of this exciting project and further confirms the near term production potential of Sintoukola as an independent, low cost, long term significant potash producer."

    The ESIA covers a 3,900 square kilometre area and grants approval for all required construction and operational activities related to the Kola deposit over the life of mine, which is currently expected to be 23 years.

    These include ore mining, transport and processing, residue storage, brine disposal, final product loading through maritime facilities, staff accommodation and service corridors.

    The mining license covers 205 square kilometres and includes the Kola area, which hosts a Proven and Probable Reserve of 151.7 million tonnes grading 20.02% K20 (31.69% KCl) and a Measured and Indicated Resource of 573 Mt grading 20.92% K20 (33.14% KCl).

    This is about 15% of the company's existing Exploration Licence of 1,408 square kilometres.


    The ESIA approval marks the completion of the permitting process and takes it closer towards monetising the Sintoukola Potash Project. Construction is expected to begin once engineering and feasibility work is completed.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.