Minister 'disappointed' in Kore Potash's progress

Kore Potash

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Kore Potash, which has 97% ownership of the Kola and DX potash projects in the Sintoukola Basin in the Republic of the Congo, said on Monday that its local subsidiary had received correspondence from the country’s minister of mines.

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The AIM-traded firm said the correspondence expressed disappointment at the speed of progress on the development of the projects, and questioned compliance with the company's obligations to the government.

“The company is progressing the development of the DX and Kola projects towards production, continues to comply with its obligations to the government of the Republic of the Congo, and has kept the minister of mines briefed on the company's plans and progress,” the board said in its statement.

“Kore Potash continues to communicate constructively and openly with the minister of mines to ensure the parties remain fully engaged as Kore Potash progresses the development of its projects.”

At 1328 GMT, shares in Kore Potash were down 10.29% at 0.53p.