Millennial Potash Corp. Initiates Definitive Feasibility Study with US DFC Funding at its Banio Potash Project, Gabon
Millennial Potash Formalizes DFS Launch with US Strategic Backing as Project Shifts to Development Stage
The most recent news (January 13, 2026) announces the formal initiation of a Definitive Feasibility Study (DFS) at the Banio Potash Project in Gabon. Key highlights include: - Engagement of ERCOSPLAN to complete an AACE Class 3 DFS. - Evaluation of a solution mining operation with a base production scenario of 800,000 Tonnes Per Year (TPY) of Muriate of Potash (MOP). - Confirmation that the project is fully funded for the DFS, supported by a US $3 million commitment from the US International Development Finance Corporation (DFC). - Completion of the DFS is expected in H2 2026, which will form the basis for the Mining License application.
The impact is Material - Positive. While the DFC funding and the intention to move to DFS were previously signaled, the formal commencement marks the official transition from exploration to the development stage. - Validation: The involvement of the US DFC is a significant strategic validation, particularly as the US government added potash to its 2025 Critical Minerals List. This reduces political and jurisdictional risk in Gabon. - Resource Base: The DFS is underpinned by a massive updated Mineral Resource Estimate (MRE) from November 2025, showing 2.45 Billion tonnes (Measured + Indicated). - De-risking: The company is entering the DFS with cash and US government-backed funding, meaning near-term equity dilution specifically for technical studies is minimized. However, the study is a prerequisite for the much larger capital raise required for construction.
Millennial Potash Corp. is focused on the Banio Potash Project in southern Gabon. The project is a solution mining play targeting extensive carnallitite and halite seams. - Flagship Project: Banio Potash Project. - Resource: 2.45B tonnes M+I @ 15.61% KCl; 3.56B tonnes Inferred @ 15.61% KCl. - Status: DFS Stage. - Infrastructure: Advantageous proximity to the Atlantic coast. Nearby government-led infrastructure (Mangali Port and Mayumba Power Station) provides significant tailwinds for future logistics and power needs.