Meeting global demand – from the Ground up
MagIndustries has three business units: MagMinerals which is developing the Mengo Potash project through its Republic of Congo subsidiary, MagPotasses du Congo (MPC); Potasses du Congo (PDC) a potash exploration division; and MagForestry, operating in the Republic of Congo at Eucalyptus Forest Congo (EFC).
MagMinerals owns exclusive rights to the Mengo Potash Project, one of the world’s largest undeveloped potash deposits. Our immediate focus is to construct and commission a 1.2 million tonne per year potash plant on the property to produce agricultural-grade potash fertilizers to meet growing demand from world markets. Pre-construction is well advanced and with a finalization of project finance debt full construction can commence with an intended completion date of year end 2015.
PDC’s exploration efforts are focussed on the Makola exploration permit (1,111 km2) and the Loango exploration permit (441 km2) is 1,552 km2 in the Republic of Congo, valid from Feb. 6th 2013, to Feb. 5th, 2015. As of as of May 27th, 2013, all six exploration wells (Mak1, Mak2, Mak2001, Mak2002, Loango1, and Loango2 have shown several thick layers of high-quality carnallite deposits which are currently being analyzed.
MagForestry owns the rights to a 68,000 hectare commercial eucalyptus forestry plantation overlying the Mengo potash property. The plantation supplies our 500,000 tonne per year wood chip plant located in the nearby port of Pointe-Noire. MagForestry has been delivering on sales contracts for the supply of eucalyptus chips to leading customers in the global pulp and paper and fiberboard industry.