Millennial Potash Corp. (TSX.V: MLP) (OTCQB: MLPNF) is advancing its Banio Potash Project in Gabon, West Africa, a development that could reshape the global potash market. The company, led by a team with a track record of successful exits, has secured support from the U.S. International Development Finance Corporation (DFC), which committed US$3 million in non-dilutive funding to complete a Definitive Feasibility Study. This study, along with an Environmental and Social Impact Assessment, is expected to support the company's mining license application in Gabon.
The project's significance is underscored by the recent addition of potash to the U.S. Critical Minerals List in 2025, reflecting the commodity's role in food security and the highly concentrated global supply. Banio sits within the West African Evaporite Basin, where drilling has intersected cumulative potash thicknesses commonly exceeding 100 meters. An updated Mineral Resource Estimate announced in November 2025 reported Measured and Indicated Mineral Resources of 2.45 billion tonnes grading approximately 15.6% KCl and Inferred Mineral Resources of 3.56 billion tonnes grading approximately 15.6% KCl — increases of 275% and 210% respectively over the maiden estimate. These figures come from drilling that covers only about 5% of the company's 1,500 km² license area.
The project's economics are compelling. A Preliminary Economic Assessment completed in 2024 outlined a solution mining operation producing 800,000 tonnes per year of granular muriate of potash, with an after-tax NPV10 of US$1.07 billion, an after-tax IRR of 32.6%, initial capital costs of US$480 million, and operating costs of US$61 per tonne. The cost structure is underpinned by solution mining, thick potash seams, simple mineralogy, and coastal logistics. Shipping to Brazil, the world's largest potash importer, is estimated at approximately US$22 per tonne.
Banio has the potential to become Africa's first potash mine while also supplying Brazil, the United States, Europe, and Asia. The project has attracted both U.S. and Gabonese government support, and management and insiders hold approximately 40% of Millennial's outstanding shares. The company is led by the team behind Millennial Lithium, Potash One, Allana Potash, and Energy Metals — companies acquired for approximately $490 million, $430 million, $170 million, and $1.8 billion, respectively.
The company is featured in coverage of the Disruptive Growth & Life Sciences Conference, hosted by Moody Capital Solutions Inc., an independent, full-service investment bank with more than 40 years of experience. The conference provides a platform for companies like Millennial Potash to present their investment thesis to a broader audience. IBN, a multifaceted financial news and publishing company, is providing online investment community with a custom-built portal that includes summaries on each of the participating companies, using social media and syndicated articles to maximize visibility.
As the world seeks to diversify potash sources and ensure food security, Millennial Potash's Banio project stands out as a strategic asset. With its substantial resource, favorable economics, and government backing, it represents a significant opportunity in the critical minerals space. The company's progress will be closely watched by investors and industry stakeholders alike.
