Gabon Minister of Mines' Successful PDAC Visit, Strong Support for Millennial's Banio Potash Project
MWN-AI** Summary
Millennial Potash Corp. (TSXV: MLP) recently welcomed Gabon's Minister of Mines, Mr. Sosthene Nguema Nguema, at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto, which took place from March 1-4, 2026. The Minister aimed to communicate Gabon's commitment to diversifying its economy beyond oil and gas, highlighting the government's support for responsible mineral resource development.
Farhad Abasov, Chair of Millennial, expressed satisfaction with Minister Nguema's visit, noting that it underscores Gabon's prioritization of mineral exploration and development. Over the past three years, Millennial has rapidly advanced its Banio Potash Project from exploration to the feasibility stage, consistently receiving backing from the Gabonese government. The project is backed by prominent asset management firms and the U.S. International Development Finance Corporation (DFC), demonstrating significant investor confidence.
The Banio Potash Project boasts substantial mineral resource estimates, including a Measured Resource of 648.2 million tonnes and an Indicated Resource of 1.8 billion tonnes, both with strong grades of potassium chloride (KCl). Currently, Millennial is conducting a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment (ESIA), expected to be completed in the latter half of 2026 to support a mining license application.
During his visit, Minister Nguema engaged with various Canadian and American financial institutions, promoting Gabon as an attractive destination for investment that enhances local value. He praised Millennial as a model for responsible project execution in Gabon, signaling a robust pathway for further mineral exploration and development in the region. The continued partnership between Millennial and the Gabonese government is poised to propel the Banio project forward, reflecting the increasing openness of Gabon to international investment in its mineral sector.
MWN-AI** Analysis
The recent participation of Gabon's Minister of Mines, Sosthene Nguema Nguema, at the PDAC conference signals a pivotal moment for Millennial Potash Corp. (TSXV: MLP) and its Banio Potash Project. The government's commitment to diversifying its economy away from oil and gas and embracing mineral resource development creates a favorable environment for investors and stakeholders in the mining sector.
Millennial's progress—from early exploration to the feasibility study in under three years—demonstrates the operational efficiency and strategic focus of the company. With a robust mineral resource estimate of 1.8 billion tonnes grading 15.6% KCl, the Banio project positions Millennial as a significant player in the potash market, particularly as global agricultural demands increase.
The open dialogue initiated by Minister Nguema with global investment banks and media outlets indicates Gabon’s proactive approach towards foreign investment. This aligns well with Millennial's objective to finalize critical assessments like the Definitive Feasibility Study (DFS) and Environmental and Social Impact Assessment (ESIA) by the end of 2026, which are pivotal for securing mining licenses.
Investors should consider the potential upside from Millennial's strong governmental backing, which is underlined by partnerships with reputable asset management firms and the U.S. International Development Finance Corporation (DFC). This investor confidence is crucial for attracting further capital and accelerating project timelines.
However, caveats should be noted regarding potential regulatory and economic changes in Gabon, which may impact project execution. The mining landscape can be subject to shifts due to domestic policies or global market conditions, particularly fluctuations in commodity prices.
In conclusion, given the favorable market conditions and the strong governmental support for Millennial Potash Corp., this might be an opportune time for investors to consider engaging with the company, prudently balancing the associated risks against its promising growth prospects in the potash sector.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
West Vancouver, British Columbia--(Newsfile Corp. - March 11, 2026) - Millennial Potash Corp. (TSXV: MLP) (OTCQB: MLPNF) (FSE: X0D) ("MLP", "Millennial" or the "Company") was pleased to welcome and accompany the Gabon Minister of Mines and Geological Resources, Mr. Sosthene Nguema Nguema, and his delegation at the Prospectors & Developers Association of Canada (PDAC) annual conference in Toronto on March 1-4. The Minister's focus during the conference was to convey to the mining industry that Gabon is seeking to diversify its oil and gas-based economy and is supporting responsible development of the country's natural resources.
Farhad Abasov, Millennial's Chair, commented: "We were very pleased to host Minister Nguema and the high-level Gabonese delegation from the Ministry of Mines and Geological Resources at the PDAC conference in Toronto. The Gabon Ministry team had numerous successful meetings and progressed in conveying their message that Gabon is very supportive of mineral resource development. The Gabon government has prioritized this effort to diversify their development initiatives away from oil and gas dependence. Millennial has successfully developed our Banio Potash Project from an early-stage exploration stage to the feasibility study stage in less than 3 years and has consistently had strong support from the Gabon government. Funded and strongly supported by top asset management firms as well as the US DFC, Millennial is fully committed to advancing the project to the next level. We look forward to the Gabonese government's continued support as we expect to complete our DFS and ESIA in 2026 to support our application for a mining license."
Minister Nguema met with numerous large Canadian and US investment banking and other financial groups and with several Canadian and global media outlets, including the Financial Times, with the message that that Gabon is open to investment that helps create value in the country. The Minister expanded his comments indicating that Millennial, with support from its partner, U.S International Development Finance Corporation (DFC), is a model for project development in the country.
Millennial is developing the Banio Potash Project in Gabon which boasts a Measured Mineral Resource Estimate of 648.2M tonnes grading 15.7% KCl, an Indicated Mineral Resource Estimate of 1.8B tonnes grading 15.6% KCl, and an Inferred Mineral Resource Estimate of 3.56B tonnes grading 17.6% KCl (see press release dated November 17, 2025). The Company has recently initiated a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment (ESIA) running in parallel and both are expected to be completed in H2 2026 and will be presented to the government of Gabon as part of the Company's application for a Mining License.
The information in this news release has been reviewed and approved by Peter J. MacLean, Ph.D., P. Geo. (Ontario), Director of the Company, who is a Qualified Person as that term is defined in National Instrument 43-101.
To find out more about Millennial Potash Corp. please contact Investor Relations at (604) 662 8184 or email at info@millennialpotash.com. Keep up-to-date on Millennial Potash developments and join our online communities on: Twitter, Facebook, LinkedIn, Instagram and YouTube.
MILLENNIAL POTASH CORP.
"Farhad Abasov"
Chair of the Board of Directors
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan" or "planned", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental (including land or water use), local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Gabon or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or CFA or other currencies, fluctuations in the market for potash or potash related products, changes in exploration costs and government royalties, export policies or taxes in Gabon or any other jurisdiction and other factors or information. The Company's current plans, expectations and intentions with respect to development of its business and of the Banio Potash Project may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions on its ability to secure further financing or funding of the Banio Potash Project. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288015
FAQ**
How does Millennial Potash Corp MLPNF plan to mitigate risks associated with the economic uncertainties highlighted in their recent news release regarding the Banio Potash Project?
What specific support has Millennial Potash Corp MLPNF received from the Gabon government to advance its Banio Potash Project beyond the feasibility study stage?
In what ways does Millennial Potash Corp MLPNF intend to engage local communities and indigenous populations as part of their Environmental and Social Impact Assessment for the Gabon project?
Could you elaborate on the role of U.S. International Development Finance Corporation in supporting Millennial Potash Corp MLPNF’s efforts in Gabon, both financially and strategically?
**MWN-AI FAQ is based on asking OpenAI questions about Millennial Potash Corp (OTC: MLPNF).
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