REG - Kore Potash PLC - Appointment of CEO

Kore PotashAnnouncement

04/04/2024 07:00

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RNS Number : 2119J  Kore Potash PLC  04 April 2024

4 April 2024

 

KORE POTASH PLC

("Kore Potash" or "the Company")

Appointment of CEO

 

Kore Potash, the potash development company with 97% ownership of the Kola and
DX Potash Projects in the Sintoukola Basin, located in the Republic of Congo,
is pleased to announce the appointment of Mr J. M. André ('André') Baya as
Chief Executive Officer ('CEO') effective from 15 April 2024.

 

André has over 20 years of experience in the global mining and agriculture
sectors and brings significant African experience including having held senior
positions for groups with operations in the Republic of Congo. Immediately
prior to joining Kore Potash, André worked as a management consultant,
leading the corporate re-engineering of Fraser Alexander (Pty) Ltd.'s African
subsidiaries and the corporate development of Fortescue Mining Group's Belinga
iron ore project in Gabon.

 

Prior to this, André was Country and General Manager for a variety of global
mining corporations including Sundance Resources, Cominco, Roxgold, Alliance
Mining Commodities, Orezone and Central Copper Resources. Other notable
positions include Chief Operating Officer at Managem Group, the international
Moroccan mining group, where he was responsible for the management of the
Managem Group's operations and development projects across eight African
nations.

 

Between 1985 and 2001, André spent 15 years in trade and agriculture, in both
technical and managerial roles for industrial chemicals and agrochemicals
businesses in Africa and beyond.

 

The position of CEO is a non-Board role.

 

David Hathorn, Chair of Kore Potash, commented:

"To appoint a CEO with André's experience in both the mining and global
agriculture sectors is hugely exciting and, I believe, demonstrates the
surefooted ambitions of Kore Potash to become a major potash producer.

 

"With an impressive background including over two decades on the African
continent, he will be pivotal in the development of the Kola and DX projects,
and position Kore to supply the world's agricultural needs and meet the rising
demand in the global fertiliser market. André's deep experience of working in
francophone Africa will also enable Kore to develop vital in-country
partnerships and derive maximum value for stakeholders."

 

 

Market Abuse Regulation

Market Abuse Regulation (MAR) Disclosure - The information contained within
this announcement is deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014 which has been
incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement via Regulatory Information Service ("RIS"),
this inside information is now considered to be in the public domain.

 

This announcement has been approved for release by the Board.

 

 

For further information, please visit www.korepotash.com
(http://www.korepotash.com/) or contact:

 Kore Potash

 David Hathorn - Chairman & Interim CEO
 Andrey Maruta - CFO                                        Tel: +44 (0) 20 3963 1776
 Tavistock Communications

 Nick Elwes Adam Baynes                                     Tel: +44 (0) 20 7920 3150
 SP Angel Corporate Finance - Nomad and Broker Ewan Leggat  Tel: +44 (0) 20 7470 0470

 Charlie Bouverat

 Kasia Brzozowska
 Shore Capital - Joint Broker Toby Gibbs                    Tel: +44 (0) 20 7408 4050

 James Thomas
 Questco Corporate Advisory - JSE Sponsor Doné Hattingh     Tel: +27 (11) 011 9205

 

 
Kore Potash

Kore Potash PLC (AIM: KP2, ASX: KP2, JSE: KP2) is an advanced stage mineral
exploration and development company that is incorporated in England and Wales
and listed on AIM, a market operated by the London Stock Exchange, the
Australian Securities Exchange (ASX) and the JSE Limited (JSE) in South
Africa.

 

Through the development of the Sintoukola potash basin in the Republic of
Congo (RoC), Kore Potash is working to bring a number of globally significant
potash deposits into production. Focus is on two high-grade projects: Kola and
DX.

 

The Company aims to move quickly to cash generation from the DX project, which
has a modest capital cost and planned production of 400,000 tonnes per annum
of Muriate of Potash and its adjacent potash projects provide the potential
for long-term potash production district from the area. Kola is scheduled to
follow DX in the Company's development strategy, with a planned production of
2.2 million tonnes per annum of Muriate of Potash over 33-year life.

 

Kore's projects aim to be among the world's lowest-cost potash producers due
to their favourable location, large size, very high-grade and shallow depth of
the deposits.

 

The Company's major shareholders include the Oman Investment Authority (OIA)
and global lithium and potash producer, Sociedad Química y Minera de Chile
(SQM). The projects are well supported by the government of the RoC with whom
Kore has an excellent relationship.

 

END

 

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