Congo-Brazza seem to attract a lot of investments in this sector of their economy. I will try to put all the latest news in this thread.

Elemental plans $1,7bn spend in CongoALLAN SECCOMBE
Published: 2012/01/23 07:45:07 AM
ELEMENTAL Minerals, which is 20% owned by South African investors, plans a capital raising in the final quarter of this year to start work on a $1,7bn potash project in Republic of Congo — ahead of a major capital-raising exercise next year to bring a mine, plant and loading terminal on line.

Elemental, which is listed in Sydney and Toronto, was considering whether to list on either the Johannesburg or Hong Kong bourse as part of the capital raising set for next year, CEO Iain Macpherson said on Friday.

In the final quarter of this year, Elemental will look at raising about $200m on the back of a completed prefeasibility study into a potash project of 2-million tons a year. The study is expected to be completed by the middle of this year.

The initial capital will be used to start earthworks, detailed process engineering work and to place orders for long-lead items as well as machinery for the highly mechanised underground mine. Work will also begin on the 270m deep shaft to access the horizontal 5m seam of high-grade sylvinite.

Elemental was not keen to talk to potential strategic partners or companies about offtake agreements until the prefeasibility study had been completed, Mr Macpherson said.

BHP Billiton is pushing hard on potash production. Potash is used to make fertiliser, and during BHP’s failed $39bn bid for Canada’s Potash Corporation, CEO Marius Kloppers said the mineral was becoming increasingly important because of growing populations, reduced agricultural land and increasing food demand.

It is highly likely that major groups such as BHP, Rio Tinto and Brazil’s Vale would be interested in Elemental’s project, which is shallow relative to other potash deposits and of a good grade of 24% potassium oxide.

seccombea@bdfm.co.za