Blog Post
Press Release: Kanga Potash Convention Signing
Stephane Rigny and Achim Strauss • Aug 20, 2023
Kanga Potash and Republic of Congo Conclude 25-Year Mining Convention, Paving the Way
for Transformation in Resource Development
Brazzaville, The Republic of Congo- August 18, 2023 The Republic of Congo and Kanga Potash have reached a
historic milestone with the signing of a 25-year Mining Convention on August 18, 2023. This
landmark agreement ushers in a new phase of responsible resource development and
economic growth for both parties. Representatives of the Republic of Congo, including State Minister and Minister of Mining
Industries and Geology, Mr. Pierre Oba; Minister of Transport, of Civil Aviation, and of the
Merchant Marine, Mr. Honoré Sayi; and Minister of Economy and Finance, Mr. Jean-Baptiste
Ondaye, joined forces to formalize the Mining Convention. Kanga Potash, represented by Mr.
Stéphane A. Rigny, Executive Chairman, and Mr. Achim Strauss, CEO, underscored of the
commitment of Kanga Potash to sustainable practices and shared growth.
Mr. Achim Strauss, CEO of Kanga Potash, commented, "Kanga Potash is proud to have this
extraordinary opportunity to playing a pivotal role in transforming the Republic of Congo into
a leading producer of fertilizers. Through responsible resource development, we are dedicated
to fostering economic progress and sustainable development. "
Of paramount significance is the fact that the Mining Convention was signed yesterday, marks
a pivotal moment in the collaboration between Kanga Potash and the Republic of Congo.
The Convention encapsulates the terms for responsible mineral resource exploration,
extraction and production while upholding sustainable as well as stringent environmental and
social standards.
Kanga Potash's proactive investment of over USD 45 million to date reflects their dedication to
advancing responsible resource development. Through diligent exploration, the company has
unveiled a resource with unparalleled potential – the densest and thickest exploitable seams
of carnallite ever encountered globally.
The strategic positioning of the Kanga mining license along the coast is a strategic advantage,
effectively and significantly reducing logistics costs – a decisive factor in the production and
distribution of bulk commodities like potash. This unique geographical advantage, combined
with exceptional geology and access to affordable natural gas, positions Kanga Potash as a
first in class in cost-effective potash producer.
Mr. Pierre Oba, State Minister and Minister of Mining Industries and Geology, expressed the
government's full support for the project, stating, "The Republic of Congo wholeheartedly
endorses this unique world-class project, which holds the promise of contributing to food
security for Africa and the world. This collaboration showcases our commitment to responsible
development for the benefit of our people and the international community."
The Kanga Potash project is poised to redefine economic development in the Republic of
Congo. With its promise of job creation, industrial diversification, and sustainable growth, the
project offers a beacon of hope in sectors where traditional industries have faced challenges.
Mr. Stéphane A. Rigny, Executive Chairman of Kanga Potash, expressed his enthusiasm for the
Mining Convention, stating, "The signing solidifies our partnership's commitment to responsible
and mutually beneficial resource development. We look forward to delivering tangible
benefits to the Republic of Congo's economy and its people.
Kanga Potash ("KP")
is a world-class, potash project developer operating in the Republic of
Congo ("ROC"), with the potential to become the world's lowest cost MOP producer with a
12bn tonne Resource and the thickest potash seams ever drilled.
The Kanga project has sufficient drilled reserves to support production of 2.4 m tpa MOP for at
least 30 years. It has indicated and inferred resource of over c. 12b tonnes carnallite (with an
additional c. 13bn tonnes located on the wholly-owned, adjacent Loango permit). The
Company has secured two Letters of Intent for MOP off-take agreements, from a well-known
trading company and a Fortune 500 company covering 100% of designated production.
In June 2022, Kanga Potash's mining and production licence was officially approved, and
construction will begin soon.
KP main investors include AMED Funds, Baker Steel Resources Trust, and Sarmin Group Inc.