Emmerson PLC (AIM:EML) is making strides towards securing environmental approval for its Khemisset potash project in Morocco. The company has recently resubmitted its Environmental Impact Assessment with key enhancements, following a request from the regional authority, the CRUI, to re-examine the application.
One of the major improvements is the introduction of the Khemisset Multi-mineral Process (KMP), which allows for a 60% reduction in water consumption. This is a significant advantage in drought-affected Morocco and addresses potential water contamination concerns. Additionally, the KMP process facilitates the monetization of waste streams into new fertilizer products, reducing runoff risks.
Graham Clarke, Emmerson’s chief executive, expressed confidence in obtaining approval, stating, ‘This revised documentation, which includes the benefits of the Khemisset Multi-mineral Process (KMP) is set to be submitted soon, with confidence in obtaining approval.’
The company’s commitment to the project is further underscored by a $2.175 million equity placement with strategic investors, reflecting their confidence in the Khemisset Project and the management team. The involvement of GSM, which now includes the right to appoint a board member, is viewed positively and is expected to bring additional expertise and reinforce their commitment to the project.
A retail offer on the REX platform, which was oversubscribed, indicates strong shareholder support and optimism for the project’s future upon approval. Emmerson’s efforts to address environmental concerns and enhance the project’s sustainability demonstrate its dedication to responsible resource development in Morocco.
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