Emmerson will provide financing for Khemisset potash project
British company Emmerson announced the completion of the formation of a syndicate of leading international and Moroccan banks, which will arrange debt financing for its Khemisset potash project (Morocco).
The banking syndicate is expected to ensure the allocation of $310 million in two tranches. ING Bank has been appointed its coordinator: it will deal with all necessary organizational and legal issues.
The predicted resources of the Khemisset project are estimated at 311 million tons of salts with an average potassium oxide content of 10.2%. Within its framework, Emmerson expects to build an enterprise for the production of 735 thousand tons of potassium chloride per year.