Millennial Potash Corp. has announced that it has initiated a Definitive Feasibility Study (DFS) at its Banio Potash Project in Gabon.
The company has engaged ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH (ERCOSPLAN), a global potash specialist consulting company with significant experience in the West African Potash Basin, to complete an AACE Class 3 Definitive Feasibility Study for the Banio Potash Project.
Farhad Abasov, Millennial's Chair, commented: "We are very pleased to have initiated a Definitive Feasibility Study at Banio after completion of our recent Mineral Resource Estimate which yielded Measured + Indicated Mineral Resources totalling 2453 billion t grading 16.6% KCl, and Inferred Resource totalling 3559 billion t also grading 15.6% KCl. The launch of the feasibility study and recently initiated ESIA mark the transition from the exploration to the development stage. We look forward to working with ERCOSPLAN as we continue to develop the Banio Potash Project in preparation for our Mining License application. The company is fully funded to complete the DFS and all associated trade-off studies in partnership with US International Development Finance Corporation (DFC) which has committed US$3 million to cover the Feasibility Study costs."
Additional details regarding the Mineral Resource Estimate referenced above can be found in the Company's news releases dated 29 December 2025 and 17 November 2025.
The DFS will evaluate a solution mining operation with a base production scenario of 800 000 tpy as well as significantly larger production rates of muriate of potash (MOP). Several technical and trade-off studies are currently in progress including dissolution tests, hydrogeological studies, creep tests, cold vs hot leaching evaluations, port options for the project as well as high purity salt marketing studies. The DFS will run in parallel to the Company's recently announced ESIA as both are expected to be completed in 2H26 and will be presented to the Government of Gabon as part of the company's application for a Mining License. The company will continue with further drilling as well.