Millennial Potash: U.S. Proposes to Add Potash to Critical Minerals List as US DFC Backs Banio Project in Gabon
Millennial Potash: U.S. Proposes to Add
Potash to Critical Minerals List as US DFC
Backs Banio Project in Gabon
West Vancouver, British Columbia--(Newsfile Corp. - August 27, 2025) -
Millennial Potash Corp.
(TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company")
announces
that the U.S. Department of the Interior has included potash on its 2025 Draft List of Critical Minerals.
This inclusion in the Draft List comes as the U.S. International Development Finance Corporation
("DFC") commits US$3 million in project development funding for Millennial's Banio Potash Project in
Gabon, recognizing its strategic role in potentially strengthening U.S. food security and supply chain
resilience.
Farhad Abasov, Chair of Millennial
, commented: "The proposed U.S. recognition of potash as a
critical mineral is a major milestone for our industry. For Millennial, it highlights Banio's unique position
as a potential new, low-cost supply source for the U.S. agricultural sector. With DFC funding in place,
strong support from the Government of Gabon, and our project's direct shipping route to U.S. ports,
Banio is strategically aligned with America's food security and supply chain priorities. In addition, Banio
can potentially become the first African potash mine to supply potash to the African continent which
currently imports all its potash."
Potash: Now a U.S. Strategic Priority
Potash is essential for global agriculture but is overwhelmingly supplied by just a few countries —
Canada, Russia, and Belarus. By adding potash to the Draft Critical Minerals List, the U.S. government
has acknowledged its vulnerability to supply shocks and trade restrictions. This proposed recognition is
intended to guide federal strategy and investment toward securing diverse, stable, and geopolitically
reliable sources of supply.
Banio Potash Project: A Direct Atlantic Supply Route to the U.S.
Millennial's Banio Potash Project sits on Gabon's Atlantic coast, offering a short, cost-efficient shipping
route directly to the United States as well as Brazil, the world's largest potash importer, and of course,
Africa. Unlike inland projects, Banio benefits from proximity to infrastructure, ongoing construction of a
port at Mayumba, and a new regional power plant all of which reduce delivery risk and strengthen its
position as a future cornerstone supplier to the U.S. agricultural market and beyond.
The project has already demonstrated strong economics, with a Preliminary Economic Assessment
(PEA) showing an after-tax NPV10% of US$1.07 billion, a 32.6% IRR, and operating costs of only
US$61 per tonne of granular potash (gMOP) (see MLP news release dated
April 23, 2024
) Recent
drilling results confirmed up to 250 meters of potash-rich horizons at the North Target, with further
resource expansion potential and a revised mineral resource estimate
calculation currently underway
(see MLP news releases
dated
May 6, 2025
and
June 26, 2025
).
U.S. DFC Backing De-Risks Banio Potash Project
The DFC's strategic investment in Banio is designed to de-risk the project and prepare it for potential
future U.S. debt financing. DFC is the U.S. Government's development finance institution that partners
with the private sector to mobilize capital for strategic investments around the world. The strategic
investment, done under the DFC's Project Development Program, will support a Feasibility Study ("FS")
on the Company's Banio Potash Project (see MLP news release dated
July 9, 2025
).
Project
development funds from DFC will be released over the course of the feasibility study and will be based
on milestone activities completed that form integral parts of the feasibility study.
MLP has initiated early-
stage feasibility study work at Banio including a LiDAR survey to generate a Digital Terrain Model, a
bathymetry survey of the lagoon, creep geotechnical tests and dissolution testwork on recently acquired
drill core from holes BA-001-EXT and BA-004.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662-8184 or
email at
.
Keep up-to-date on Millennial Potash developments and join our online communities on:
,
,
,
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.
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