31st Oct 2024 13:59
Kore Potash PLC - London-based owner of the Kola and DX potash projects in Republic of Congo - Reaches agreement with PowerChina International Group Ltd, finalising the engineering, procurement and construction contract. The agreement was signed on Monday. Says Kore and PowerChina are working towards convening a date, set for November 19, for the signing ceremony with the minister of mines and other high officials in Congo.
Back in August 2023, Kore said it had entered into a revised agreement that saw Sepco Electric Power Construction Corp, a subsidiary of PowerChina, provide the company with an engineering, procurement and construction contract. The Summit Consortium has said the financing proposal for the total construction cost of Kola will be provided to the company within six weeks of the finalisation of terms of this contract. The consortium is an investment group that represents investors and engineering firms.
Current stock price in Johannesburg: 75 rand cents, up 1.4% on Thursday afternoon
12-month change: multiplied from 13 cents on August 31, 2023
Current stock price in London: 3.22 pence, up 3.9%
12-month change: multiplied from 0.40p on August 31, 2023
By Artwell Dlamini, Alliance News reporter
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