13th December 2019
Runtime 11:10
Hayden Locke, Emmerson CEO has told London South East that the planned potash project in Northern Morocco may receive direct subsidies of up to $40M from the Moroccan Government, as well as substantial financial incentives such as a VAT holiday and a five year tax break.
First Emmerson need to negotiate an Investment Convention with the Government in order to agree the level of subsidy and exactly how it might apply to road, rail, electricity and port infrastructure for the mine.
Hayden also confirmed that the Feasibility Study is expected in the first half of next year, and may yet be delivered ahead of schedule, and reiterated that 2019 had been an oustanding year for derisking the project and proving its 'world class low cost' status.
Emmerson (EML)