Millennial Potash adds $750K placement to fund Gabon potash mine as fertiliser prices climb

Millennial Potash , a Canadian developer, has announced a non-brokered private placement of $750,000. The raise follows demand for its previously disclosed $17.36 million financing, led by Cantor Fitzgerald . The proceeds will fund feasibility work, environmental and social impact studies, and offtake negotiations for its Banio potash project in Gabon.

The Banio project sits on Gabon's coast, near the port of Mayumba, and holds a resource base of 2.45 billion tonnes measured and indicated and 3.56 billion tonnes inferred, at roughly 15.6% potassium chloride content. Its solution-mining design and port access aim to ease shipping to Brazilian and African markets.

Potash prices have swung on supply disruptions tied to major exporters Russia and Belarus. With agricultural markets recalibrating, investors are favouring geographically diversified, port-accessible projects serving buyers in Africa, Brazil, and the US.

The funds will advance a definitive feasibility study, an environmental and social impact assessment, offtake talks, project financing discussions, and corporate development.

Chairman Farhad Abasov said the financing "reflects very strong confidence in our project," adding that Banio could become "a significant supplier of this critical mineral to the United States, Africa, and Brazil."

As fertiliser security climbs the agenda — with Washington signalling support through early funding from the International Development Finance Corporation — African coastal potash assets near deep-water ports offer buyers supply routes independent of Eastern Europe.