(Alliance News) - Kore Potash PLC on Monday said it received correspondence from Congolese Minister of Mines Martin Kabwelulu in which he expressed disappointment at the speed of progress on the development of the projects in the Sintoukola Basin in the Republic of Congo.
However, the potash development company focused on the Congo insisted it is progressing the development of the Dougou extension project and Kola projects towards production, and it continues to comply with its obligations to the government of the Republic of Congo.
"Kore Potash continues to communicate constructively and openly with the minister of Mines to ensure the parties remain fully engaged as Kore Potash progresses the development of its projects," Kore Potash said.
In early December, Kore Potash announced that the phase 1 of the definitive feasibility study for the Dougou extension project remains on track to be completed in May next year.
Kore Potash shares were down 15% at 0.50 pence each in London on Monday and were untraded in Johannesburg at ZAR0.16.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Kore Potash (KP2)