African Potash Limited ('African Potash' or 'the Company')
Update on Inaugural Fertiliser Trade with Windmill
African Potash, the AIM listed exploration company focused on the vertical integration of fertiliser operations in Africa and Sub-Saharan potash assets, is pleased to provide shareholders with an update regarding its inaugural fertiliser trade with Windmill (Pvt) Ltd ('Windmill'), a large privately-owned fertiliser producer in Southern Africa.
Further to the announcement of 11 December 2015, the Company confirms it has received confirmation of payment from Windmill for 200 tonnes of the 3,000 tonne purchase of urea fertiliser stock. The Company expects to receive further payments from Windmill in due course in respect of the remaining quantum of the order.
Windmill is a major privately-owned fertiliser producer in southern Africa exporting its products mainly to Zambia and Malawi, and a certain amount to Mozambique with long term plans to pursue opportunities in the Democratic Republic of Congo (DRC) and Angola.
For more information, please visit www.windmill.co.zw.
African Potash is an AIM quoted company focussed on building a vertically integrated platform for the mining, production and distribution of fertiliser, primarily within Africa.
The Company has a trading agreement with the Common Market for Eastern and Southern Africa ('COMESA'), a free trade union for twenty African member states, to supply and deliver at least 500,000 metric tonnes of fertilisers on an annual basis to off-takers identified and introduced by COMESA.
The Company also operates the Lac Dinga Project in the Republic of Congo, which is prospective for potash, a key source of potassium fertiliser.
This information is provided by RNS
The company news service from the London Stock Exchange