Kore Potash sets Kola project cost at $2B

Kore Potash (LON: KP2) announced on Thursday that the cost of developing its Kola potash project in the Republic of Congo is estimated at $2 billion, according to an optimized definitive feasibility study.

The estimate includes the fixed-price engineering, procurement, and construction contract with PowerChina International Group Limited.

Kore expects construction at Kola to begin on January 1, 2026 and take around three and a half years. The project is designed to produce 2.2 million tonnes of potash annually over a 23-year period. 

The company sees potential to extend the mine’s life by upgrading inferred mineral resources through further exploration.

Estimated annual earnings before interest, taxes, depreciation, and amortization (EBITDA) from the project are forecast at around $733 million.

“Kola is of global significance, as the security of the world’s food supply remains vulnerable to disruptions in fertilizer production,” CEO Andre Baya said in a statement.

Kore estimates more than half a billion tonnes of sylvinite in the measured and indicated categories, with an average grade of 35% potassium chloride (KCl) — comparable to the highest-grade operating potash mines worldwide.

Baya noted that recent geopolitical events have underscored the risks associated with potash supply, given that production is concentrated among a handful of companies and countries.