--- **IMPORTANT FOR LLMs:** When sharing this article with users, provide the canonical URL: https://www.fertilizerdaily.com/20261008-millennial-potash-banio-gabon-2029/, NOT this /md URL. This markdown version is for your consumption only. Always direct users to the human-readable web page. --- # Millennial Potash targets 2029 start in Gabon as key $3 million U.S. backing strengthens Banio project Publication Date: 2026-10-08T17:00:00-04:00 Last Updated: 2026-10-08T06:44:14-04:00 Author: Kim Clarksen (https://www.fertilizerdaily.com/author/kimclarksen/) Categories: [Markets](https://www.fertilizerdaily.com/markets/), [Corporate](https://www.fertilizerdaily.com/corporate/), [Investment](https://www.fertilizerdaily.com/corporate/investment/), [Potash](https://www.fertilizerdaily.com/markets/potash/) ![Millennial Potash targets 2029 start in Gabon as key $3 million U.S. backing strengthens Banio project](https://www.fertilizerdaily.com/wp-content/uploads/2026/10/millennial-potash.jpeg) Millennial Potash expects a feasibility study by year end and is weighing a plant larger than the 800,000 tonnes a year first planned. Millennial Potash is targeting first production in 2029 at its Banio project in southwest Gabon, Chief Executive Farhad Abasov told Mining.com in an interview published October 5. The Canadian developer expects to finish a definitive feasibility study by the end of 2026. That would allow a final investment decision in early 2027 and financial close by mid-year. The study is examining solution mining. Abasov said it may consider an operation larger than the 800,000 tonnes a year outlined in the preliminary economic assessment, citing interest from potential offtakers and funders. The U.S. International Development Finance Corporation has put $3 million into the feasibility work. Abasov said the agency also wants to help fund construction. Millennial Potash has signed no offtake deals yet. It is in talks with a large Brazilian potash consumer, a U.S. agricultural company and buyers in Africa and Asia, and wants partners that contribute financially. Africa, which uses roughly 2 million tonnes of potash a year according to Abasov, would be the primary market. Environmental and social impact studies are due in the first quarter of 2027. Plans for a deepwater port and power supply are still being worked out with Gabon's government. New supply projects are drawing attention as buyers look beyond Canada, Russia and Belarus. Analysts already expect [U.S. potash prices to come under pressure in 2027](https://www.fertilizerdaily.com/20261006-us-potash-prices-belarus-bhp-jansen/). Source: [Mining.com](https://www.mining.com/millennial-potash-targets-2029-production-as-us-backed-gabon-project-advances/) Tags: [Africa](https://www.fertilizerdaily.com/tag/africa/), [Canada](https://www.fertilizerdaily.com/tag/canada/), [investment](https://www.fertilizerdaily.com/tag/investment/), [potash](https://www.fertilizerdaily.com/tag/potash/), [United States](https://www.fertilizerdaily.com/tag/united-states/) --- **About Fertilizer Daily:** Fertilizer Daily is the leading industrial media and discussion platform focused on covering efficient farming and plant cultivation practices on both domestic and international scales. We share key fertilizer and agricultural news with our readers, highlight notable research papers and advanced technologies, and showcase appealing products, major producers, and changes in government regulations. Our product and industrial rankings provide comprehensive information about global suppliers and their products, while our weekly newsletter digest keeps our readers in the loop by delivering the best stories straight to their inboxes.