Millennial Welcomes Gabon Minister of Mines to Banio Potash Project Site
Gabon’s minister pledged full support for Millennial Potash’s Banio project, which returned grades of 16.7% K2O over widths up to 13.5 metres.
Millennial Potash Corp. hosted Gabonese Minister of Mines and Geological Resources Sosthene Nguema Nguema at the Banio Potash Project site on July 5-6, 2026. During the visit, the Minister inspected drill core and pledged full government support for infrastructure development and project advancement.
The company confirmed that a four-hole exploration drilling program is underway to extend resources south and west of the current Mineral Resource Estimate (MRE). Completion of this program is targeted for 2026 to support an updated MRE. Additionally, the Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA) continue to advance toward their scheduled completion in late 2026.
Millennial has adopted semi-annual financial reporting under Coordinated Blanket Order 51-933, exempting it from filing interim financial reports and Management’s Discussion and Analysis (MD&A) for the first and third quarters of its fiscal year.
Millennial Potash Corp. (MLP) released an update on July 8, 2026, following a visit by the same Minister to the PDAC conference in March 2026, confirming continued high-level government backing. This drilling update aligns with the Phase 3 program announced in May 2026 and the broader DFS/ESIA timeline.
The company also adopted semi-annual reporting, a standard regulatory adjustment that reduces administrative burden but does not alter financial performance or project economics. The news is incremental and expected given the project's development stage. It reinforces political risk mitigation but does not introduce new financial milestones, offtake agreements, or construction financing commitments.
Millennial Potash Corp. is a pre-revenue junior mining company focused on the Banio Potash Project in Gabon. The flagship project utilizes solution mining to extract carnallitite and sylvinite, with a base production scenario of 800,000 tonnes per year (tpy) of Muriate of Potash (MOP).
The updated Mineral Resource Estimate (MRE), effective November 2025, reports 648.2M tonnes Measured, 1.8B tonnes Indicated, and 3.56B tonnes Inferred resources at an average grade of 15.6% KCl. The company holds an 80% interest in Equatorial Potash, with a direct path to 100% ownership upon DFS completion and vendor payments. The project benefits from proximity to the Mayumba port and a direct Atlantic shipping route to U.S. and Brazilian markets.