Emmerson PLC Morocco Statement
September 11 2023 - 6:38AM
RNS Non-Regulatory
TIDMEML
Emmerson PLC
11 September 2023
Emmerson PLC / Ticker: EML / Index: AIM / Sector: Mining
11 September 2023
Emmerson PLC ("Emmerson" or the "Company")
Morocco Statement
Emmerson is shocked and saddened to hear the news of the
earthquake that occurred in Morocco over the weekend. The Company
expresses its deepest condolences and will support the Moroccan
authorities in any way it can.
The Company's Khemisset Project and support offices are located
some distance from the earthquake zone so are not directly
impacted. All Emmerson employees are safe and unaffected by the
tragic earthquake.
**ENDS**
For further information, please visit www.emmersonplc.com ,
follow us on Twitter (@emmerson_plc), or contact:
Emmerson PLC +44 (0) 20 7236
Graham Clarke / Jim Wynn / Charles Vaughan 1177
Liberum Capital Limited (Nominated Advisor
and Joint Broker) +44 (0)20 3100
Scott Mathieson / Kane Collings / Will King 2000
Shard Capital (Joint Broker) +44 (0)20 7186
Damon Heath / Isabella Pierre 9927
BlytheRay (Financial PR and IR) +44 (0) 207 138
Tim Blythe / Megan Ray / Said Izagaren 3204
Notes to Editors
Emmerson is focused on advancing the Khemisset project
("Khemisset" or the "Project") in Morocco into a low cost, high
margin supplier of potash, and the first primary producer on the
African continent. With an initial 19-year life of mine, the
development of Khemisset is expected to deliver long-term
investment and financial contributions to Morocco including the
creation of permanent employment, taxation, and a plethora of
ancillary benefits. As a UK-Moroccan partnership, the Company is
committed to bringing in significant international investment over
the life of the mine.
Morocco is widely recognised as one of the leading phosphate
producers globally, ranking third in the world in terms of tonnes
produced annually, and the development of this mine is set to
consolidate its position as the most important fertiliser producer
in Africa. The Project has a large JORC Resource Estimate (2012) of
537Mt @ 9.24% K2O, with significant exploration potential, and is
perfectly located to support the expected growth of African
fertiliser consumption whilst also being located on the doorstep of
European markets. The need to feed the world's rapidly increasing
population is driving demand for potash and Khemisset is well
placed to benefit from the opportunities this presents. The
Feasibility Study released in June 2020 indicated the Project has
the potential to be among the lowest capital cost development stage
potash projects in the world and also, as a result of its location,
one of the highest margin projects. This 2020 Feasibility Study
delivered compelling economics, including a post-tax NPV8 of
approximately US$1.4 billion.
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END
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