Millennial Potash Reports Completion of Mangali Port Phase 1 and Upcoming Equipment Arrival for Mayumba Power Station Near Its Banio Potash Project
Millennial Potash Reports Completion of
Mangali Port Phase 1 and Upcoming
Equipment Arrival for Mayumba Power Station
Near Its Banio Potash Project
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) -
Millennial Potash Corp. (TSXV:
MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
is pleased to
announce the completion of Phase 1 of the Mangali Port and provide an update on the ongoing
construction of the thermal power plant near Mayumba, Gabon. These infrastructure projects, located in
close proximity to the Company's Banio Potash Project, are independent initiatives led by private and
Gabonese government partners and are expected to significantly enhance the operational and economic
prospects of Millennial's potash development efforts.
Mangali Port Phase 1 Completion
The completion of Phase 1 of the Mangali Port, a public-private partnership project between the African
Conservation Development Group (see
https://afcondev.com/grande-mayumba
), and the Gabonese
Republic represents a significant milestone for southern Gabon's infrastructure development. As outlined
in the Company's November 13, 2024 news release, Phase 1 includes the construction of a 130-meter
quay designed for vessels with a 3-meter draft, accommodating barges and landing craft. This
infrastructure has been developed, and is to be operated, by Grande Mayumba Port Company (GMPC)
under a long-term (30 years) public service agreement with the Port Authority (OPRAG), marking the first
phase of a broader initiative to expand port and industrial zone capacity and increase draft depth to
accommodate larger vessels and support all business development in Southern Gabon. With this phase
now complete, the port is poised to begin receiving equipment imminently, starting with the gas turbines
for the Mayumba Power Station, scheduled to arrive in mid-April. This development strengthens the
region's capacity for maritime activity and is expected to support the efficient export logistics critical to
any development of the Banio Potash Project.
Millennial has no direct involvement in the port's
construction or operations.
Mayumba Power Station Progress
Construction of the thermal power plant south of Mayumba continues to advance, with the upcoming
arrival of the gas turbines marking a key step forward. Once operational, the power station—initially set
to deliver 8.5 MW of capacity, expandable to 50 MW—will provide a reliable energy source for the
region. While this project is a public-private partnership independent of Millennial, its proximity to the
Banio Potash Project is anticipated to mitigate risks related to future mining and processing operations
by ensuring access to stable power infrastructure.
Farhad Abasov, Chair of Millennial Potash, stated:
"The completion of Phase 1 of the Mangali Port and
the scheduled arrival of the Mayumba Power Station gas turbines in mid-April are transformative
developments for southern Gabon. Although these projects are not specifically for Millennial at this
point, their close proximity to our Banio Potash Project significantly enhances our operational outlook
as we expect to be able to make use of these facilities in due time. The port will facilitate efficient
shipping, and the power plant will provide a dependable energy supply
—
both critical to the success of
our proposed solution mining and conventional processing methods. We applaud the Gabonese
government's commitment to regional infrastructure and will continue to update our shareholders as
these advancements unfold."
Millennial remains dedicated to advancing the Banio Potash Project and supporting the Gabonese
government's broader efforts to develop southern Gabon. The Company will provide further updates as
these nearby infrastructure projects progress and influence the planning and development of its potash
operations.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 6628184 or
email at
.
Keep up-to-date on Millennial Potash developments and join our online communities on:
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and
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.
MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When
used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or
"planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-
looking statements or information. These forward-looking statements or information may relate to future
prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources,
regulatory or government requirements or approvals including approvals of title and mining rights or
licenses and environmental (including land or water use), local community or indigenous community
approvals, the reliability of third party information, continued access to mineral properties or
infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact
upon the Company or its properties or the commercial exploitation of those properties, currency risks
including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for
potash or potash related products, changes in exploration costs and government royalties, export
policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's
current plans, expectations and intentions with respect to development of its business and of the Banio
Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the
impact of current financial and other market conditions on its ability to secure further financing or funding
of the Banio Potash Project. Such statements represent the Company's current views with respect to
future events and are necessarily based upon a number of assumptions and estimates that, while
considered reasonable by the Company, are inherently subject to significant business, economic,
competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both
known and unknown, could cause results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such forward-
looking statements. The Company does not intend, and does not assume any obligation, to update these
forward-looking statements or information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements and information other than as required by
applicable laws, rules and regulations.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/248950