Millennial Potash Corp. (TSXV: MLP | OTCQB: MLPNF | FRANKFURT: X0D) has provided an update on additional infrastructure build-up in the Mayumba region near the company’s Banio Potash Project.
The Gabonese government, Perenco Oil & Gas Gabon (POGG), and Gabon Power Company have signed a memorandum of understanding for the development of a 21MW power plant to be powered by natural gas, and the installation of a gas collection network and treatment facility, with a 32km gas pipeline to the town of Mayumba.
Farhad Abasov, chair of Millennial Potash, commented “Millennial is pleased to report that the infrastructure build-up continues in the Mayumba area with this announcement of a thermal power plant and associated gas pipeline development. Combined with the commitment of the Gabonese government through its Grande Mayumba partnership for port construction this power plant and associated infrastructure would significantly de-risk a potential future mining, and processing as well as shipping operation.”
The Mayumba thermal gas power plant will be supplied with natural gas through a pipeline and associated equipment linking offshore oil fields operated by POGG, and will have an installed capacity of 21MW expandable to 50MW.
A transformer station will be situated at Mayumba with a 20kV distribution line, and a transmission line will be constructed to the town of Tchibanga approximately 70km east of Mayumba as part of the government’s initiative to provide electricity to southern communities.
The new power plant at Mayumba is a significant infrastructure development for the region and will replace diesel generator supplied power. There is an ample supply of lower emission natural gas from offshore development and a dependable inexpensive power source will help drive development in the region.
The company’s Banio Potash Project could benefit significantly in the future from this development should a potash processing plant situated at Mayumba be a viable alternative for a potential operation.
To find out more, please visit www.millenialpotash.com
