Curated News
By: NewsRamp Editorial Staff
September 03, 2026
Millennial Potash Advances Banio Project with DFC Support and Huge Resource Growth
TLDR
- Millennial Potash's Banio project boasts a 275% resource increase and US$1.07B NPV, positioning it as a prime investment opportunity.
- Millennial Potash advances Banio with DFC funding for feasibility and ESIA, using solution mining to produce 800kt/y potash at low cost.
- Banio Potash project can enhance global food security by diversifying potash supply, supporting farmers and communities worldwide.
- Banio's resource estimate jumped 275% from just 5% drilling, hinting at vast untapped potash beneath Gabon's coast.
Impact - Why it Matters
This news matters because it highlights a major step toward diversifying the global potash supply, which is critical for food security. With potash now on the U.S. Critical Minerals List, the development of the Banio project could reduce dependence on a few dominant producers, stabilize fertilizer prices, and support agricultural productivity worldwide. For investors, the project's strong economics and strategic location offer significant upside, while for consuming nations, it promises a more resilient supply chain.
Summary
Millennial Potash Corp. (TSX.V: MLP) (OTCQB: MLPNF) is making significant strides in advancing the Banio Potash Project in Gabon, West Africa, a massive potash deposit strategically located on the Atlantic coast. The company has secured crucial backing from the U.S. International Development Finance Corporation (DFC), which has committed US$3 million in non-dilutive funding to complete a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment, both essential for its mining license application in Gabon. This partnership underscores the project's importance, especially as potash was added to the U.S. Critical Minerals List in 2025 due to its role in food security and concentrated global supply.
Led by a seasoned team behind successful ventures like Millennial Lithium and Potash One, Millennial Potash boasts management and insiders holding approximately 40% of outstanding shares, aligning interests with shareholders. The Banio project has demonstrated remarkable resource growth, with an updated Mineral Resource Estimate revealing Measured and Indicated resources of 2.45 billion tonnes grading 15.6% KCl and Inferred resources of 3.56 billion tonnes, increases of 275% and 210% respectively. These figures are based on drilling covering only 5% of the 1,500 km² license area, indicating vast untapped potential. A 2024 Preliminary Economic Assessment outlined a solution mining operation producing 800,000 tonnes per year of granular potash, with an after-tax NPV10 of US$1.07 billion, IRR of 32.6%, and low operating costs of US$61 per tonne, underpinned by coastal logistics that reduce shipping costs to Brazil to just US$22 per tonne.
This project could become Africa's first potash mine, supplying not only Brazil but also the U.S., Europe, and Asia. The company is presenting at the Moody Capital Solutions 2026 Disruptive Growth and Life Sciences Conference, with coverage provided by IBN. For more details, visit www.millennialpotash.com.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Millennial Potash Advances Banio Project with DFC Support and Huge Resource Growth
