Millennial Potash Corp. (TSXV:MLP; OTCQB:MLPNF; FSE:X0D) has announced that the US international Development Finance Corporation (DFC) has committed up to US$3M in project development funding for the Banio Potash Project in Gabon. This deal was announced on 8 July 2025 with a joint signing ceremony in Washington D.C. with the President of Gabon, His Excellency Brice Oligui Nguema present.
This strategic development will support a feasibility study on the project, which will be initiated in the next few months. The investment was facilitated as part of DFC’s Project Development Programme with the focus of mobilizing capital for strategic investments around the world.
Farhad Abasov, Millennial’s Chair, commented “Millennial is very excited to announce a strategic investment by DFC in Millennial’s Banio Potash Project in Gabon. DFC senior executives have visited Gabon several times over the past few months and have expressed their interest in exploring U.S. private sector investment opportunities in the country. The U.S. Ambassador to Gabon has recently visited the project site and came away impressed with the Company’s technical progress as well as our first-class team. The Government of Gabon is fully supportive of the DFC investment as well. DFC also recognizes the importance of food security, especially in Africa, and is keen to invest in the Banio opportunity as a means to stabilize and enhance food availability throughout the continent. The DFC strategic investment comes in at the right time for Millennial as we are close to finishing the second stage of our drill program and are in the process of transitioning from an exploration stage to development. The DFC project development funding demonstrates the increasing strategic importance of Millennial’s Banio Potash Project not only for Africa but for other key potash consuming markets in the world. The DFC involvement also derisks the project on many accounts and supports the successful start of a bankable feasibility study later this year. We look forward to working very closely with DFC at the feasibility study stage and beyond since DFC has a capability to help the company fund further development of the project. MLP appreciates the assistance it has received from the Government of Gabon and would like to express our deep gratitude to His Excellency President Brice Oligui Nguema for his continued support and commitment to our Banio Potash Project and attending the signing ceremony in Washington D.C. Millennial extends it’s thanks to the entire DFC team involved with the project as well as the US Embassy and Ambassador Vernelle Trim FitzPatric in Libreville. We would also like to thank the team at Cygnum Capital for working with both MLP and DFC to facilitate this agreement.”
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