Member Info for 99icecream

Means nothing - no volume (so far).

If I'm correct in my geography Chinese-backed Luyan de Mines are next door neighbours to Kore and given the Chinese connection might end up sharing shipping facilities.

Kropz Hinda - in their old guise as Cominco planned to have a slurry pipeline from their mine to the SEZ. There has been a great deal of hype which suggests this project may be revived.

Note the relevance of this to the future of Kore which has Carnallite, which can be exploited using Emmersons (EML) KMP process using Phosphate and Ammonia to produce a premium slow release fertilizer (Struvite).

https://www.theafricareport.com/346728/patrice-motsepe-invests-his-billions-in-congo-mega-phosphate-project/

see the map here for the transport plan:

https://en.wikipedia.org/wiki/Cominco_Resources

The mole port was planned as part of the new port project north of Pointe-Noire adjacent to the SEZ (Special Economic Zone), just south of Ponte-Indienne. This port consisted of two key elements, a conventional container port and also "Mole Port" - essentially a massive jetty that projects into deep water and allows the berthing of the largest bulk carriers for the transport of ore. It is not clear if these two elements will be managed by the same entity or different. The old plans can be seen here:-

http://www.halcrowsea.com/Projects/152928980272.html

ARISE which has been selected to manage the SEZ has this cartoon which illustrates their plans for the SEZ incorporating the container port (but on the Mole Port).

https://www.facebook.com/zes.gouv.cg/videos/zone-%C3%A9conomique-sp%C3%A9ciale-de-pointe-noire-pr%C3%A9sentation-du-projet-en-3d/5735726563141858/?extid=NS-UNK-UNK-UNK-AN_GK0T-GK1C

The Mineral "Mole" port is entirely relevant to Zanaga, as the project could reach 30 Million Tonnes per annum in its second phase. The Mole port in the original (2016) plan would support 42 Million Tonnes per annum. The Kore potash project as recently planned is 2.2 Million Tonnes per annum and the plans include its own Jetty 50km north of Mole Port.

The Kore project does not need such a large facility and transporting its product south might add unnecessary extra costs.

For the last five years world steel production has been about 1,900 Million Tonnes per annum. China accounts for about 1,100 Million Tonnes per annum. If Neom accounts for 20% of this 380 Million, the bulk of this will come from China. Therefore it matters not if Saudi want to make their own steel as China will do it for them. ZIOC will be a target for the Chinese if Saudi's don't want them. - IMHO etc.

https://worldsteel.org/data/world-steel-in-figures-2024/

IMHO - The price will go up, but just how little or how much depends on what is signed. I hope after the approx 1 year delay and the $10 million of additional spending the project will be much improved.

Audible. You might be correct, however if the signing date were fixed for 19th November, the ASX suspension would only be needed for that day. The fact that it covers such a long period implies they are trying to get it done asap.

Thanks for that. So we could be waiting until the 20th for news, unless its signed earlier.

The Thatcher government had a plant to invest in PWRs when they came into power in 1979 - only one was ever built (Sizewell B - built between 1987 to 1995). The labour government of 1990 killed off the PWR program. Meanwhile the French continued to build out their own power stations.

So the Black Hole in Energy Security goes much further back than you imply.

Can you give a link for that. I can only see:

06/11/24 01:04 - Proposed issue of securities - KP2

06/11/24 08:48 - Trading Halt

10/11/24 10:35 - Suspension from Quotation

FWIW - Neither the ASX Trading Halt on 7/11 or the ASK Suspension from Quotation of today mention 19/20 November.

7/11 -"... securities will remain in trading halt until earlier of ..... 11/11 or when the announcement is made to the market.

11/11 - ".... suspended from quotation... pending the release of an announcement regarding the ...... EPC contract"

My reading of this is its a technical thing. A trading halt lasts up to 2 days, after that a suspension of quotation is necessary.

N.B. Trading on Johannesburg exchange remains suspended also.

My guess is that this will be signed soon, maybe as early as this evening.

So its better if the Chinese remain the builders, and do not become the owners also.

This could be interesting test of Morocco's attitude to mining projects by foreign companies. Atlantic Tin (Australian unlisted) has found a large amounts of Tin near Meknez. Meknez is about 50km (75km by road) from Khemisset, and politically in the next door region.

https://en.hespress.com/95234-one-of-the-largest-tin-deposits-in-the-world-discovered-near-meknes.html

WYT - Could you explain what your point is here please?

I doubt EML will standstill if this does end-up in a long running ICSID dispute.

While GreenX Metals (formerly Prairie Mining) were at the ICSID with Poland, they moved into a Copper investment in Greenland.

Given EML's advantages in Potash (KMP), they would be a very credible owner (or partner) for a Potash (from Carnalite) project.

Congo-Brazzaville has lost a big chunk of its oil revenue

The relevance of this saga to Zanaga is that Glencore is a key creditor of SNPC the state owned oil company. Glencore has resisted attempts to restructure these loans. The interference is that Glencore could trigger a default by SNPC at any point and that if this were to happen the financial records of the company would become public knowledge. Given this leverage Glencore (and therefore Zanaga) are immune from interference by the state.

Barravelli - Ironically it is in China interests that Potash prices are as low as possible (basically this to keep food prices low in China), so it will encourage Kore and as many others as possible to build Potash mines. If they owned the mine and ran it just for the profit then expansions would only occur when Potash prices were high.

The Rockhopper ICSID case vs Italy is a good model for how this should work. Essentially what happened was Rockhopper was granted rights to explore for hydrocarbons within Italy's 12 mile limit. A change of strategy in Italy led to them banning hydrocarbon extraction within 12m of Italy. Rockhopper won most of what was claimed (and most of that was lost profits rather than cost already paid during exploration.

The parallel here is that Morocco having given Emmerson the rights to explore can't change its mind about extraction without paying compensation. Arguments about water use should not carry any weight if the use of water was in line with what is standard in the industry, indeed under KMP water use is much lower. Note that water use is going to be far lower than is OCP Phosphate extraction, where water is used to transport "Phosphate slurry" to the coast.

I would expect Morocco to get expert opinion on the outcome of an ICSID case and then sort out the ESIA is short order. If they were determined to keep Potash extraction for Moroccan companies they would need to get OCP to pay a considerable sum (say 50%) in a negotiated settlement. As far as Emmerson is concerned Burford (or similar) litigation funders will only take on the case if they are very confident of success. So if say Burford accepts the job you can be confident of a large payout (only it could take several years).

Barravelli - The Chinese can get everything they need without ownership. The can build the mine, run it and get the potash it produces. The time to buy (if that's what they wanted) would have been when the shares were trading at 0.5p each not the **** p they will be trading at soon.

Wouldn't Dana or Shell be the obvious buyers, if Deltic were in dire straits ?