How Kore Potash Is Advancing Kola Project Financing and Early Works
Kore Potash has made significant strides in financing and early development activities for its Kola Potash Project, while updating environmental assessments to reflect design changes. The company holds a cash balance of US$2.13 million as it prepares for construction.
- Signed financing term sheets with OWI-RAMS for Kola Project funding
- Early works initiated including core sample preparation and subcontractor onboarding
- Environmental and Social Impact Assessment updated due to infrastructure design changes
- Cash position at US$2.13 million with US$1 million invested in exploration this quarter
- Dougou Extension project remains under strategic review
Financing Momentum for Kola Project
Kore Potash has progressed its financing arrangements for the Kola Potash Project, signing term sheets with OWI-RAMS in June 2025 to cover the total funding requirement. This milestone underpins the company’s efforts to enhance managerial capacity and advance project delivery. The appointment of UMS-PROJECTS as an external Owner’s Team or Project Management Consultant is expected to be finalized by year-end, marking a critical step towards financial close.
Early Works and Technical Preparations
Early development activities have commenced, notably the preparation of core samples shipped to China to validate geological data and refine processing methods. PowerChina International Group Limited, the EPC contractor, has been actively onboarding subcontractors, including marine surveyors for jetty construction scheduled for late 2025. Collaborative engineering efforts with UMS and the Hunan Province Geological Bureau are advancing shaft design and drilling preparations.
Environmental and Regulatory Compliance
Kore Potash is updating its Environmental and Social Impact Assessment (ESIA) to accommodate design optimizations introduced by PowerChina, which have shifted key infrastructure locations such as the processing plant and accommodation camp. This update is essential to secure a new Déclaration d’Utilité Publique (DUP) from the Republic of Congo authorities, a prerequisite for land acquisition and regulatory compliance. Baseline environmental and social data collection is progressing smoothly with multiple consulting firms engaged.
Corporate and Financial Position
The company issued 500 CHESS Depositary Interests (CDIs) in July 2025 to close its cleansing prospectus and released its half-year report in September. As of 30 September, Kore Potash held approximately US$2.13 million in cash. The quarter saw an investment of US$1.002 million in exploration activities, predominantly focused on the Kola Project. No mining production or construction activities occurred during this period.
Strategic Outlook on Dougou Extension
While the primary focus remains on securing financing and advancing construction for Kola, Kore Potash is evaluating strategic options for the Dougou Extension project. This reflects a cautious approach to capital allocation amid ongoing project developments and financing negotiations.
Bottom Line?
Kore Potash’s next critical phase hinges on finalizing financing contracts and securing regulatory approvals to transition from early works to full-scale construction.
Questions in the middle?
- When will Kore Potash achieve financial close for the Kola Project?
- How will the design changes impact overall project costs and timelines?
- What strategic options is the company considering for the Dougou Extension?
