Approval of Sekarna Phosphate Project Exploration Permit

PhosCo Ltd (ASX:PHO) has received approval from the Consultative Committee of Mines for the Sekarna Phosphate Project in Tunisia. The exploration permit application, held 100% by Himilco Resources Pty Ltd, a wholly owned subsidiary of PhosCo, covers an area of 128km2. The formal grant is pending subject to final approval by the Ministry of National Defence.

Executive Commentary on Sekarna Phosphate Project Approval

We are pleased to announce that the Ministry of Industry, Mines and Energy has approved our permit application for the Sekarna project. This approval marks a significant milestone as Sekarna represents one of three key elements that will constitute a larger phosphate basin hub in Tunisia's Northern Phosphate Basin. Notably, this marks the first instance in Tunisia where a phosphate permit application for a project wholly owned by a foreign company has been approved, a responsibility we accept with utmost seriousness and gratitude. We eagerly anticipate the official gazetting of the permit, which will allow us to commence operations promptly. This development underscores our commitment to responsible resource exploration and our growing presence in Tunisia's mineral sector. We look forward to leveraging this opportunity to create value for our shareholders while contributing to the local economy.

Summary of Sekarna Phosphate Project Approval

PhosCo (ASX:PHO) has secured approval for the Sekarna Phosphate Project in Tunisia, a key element in the company's strategic phosphate portfolio within Tunisia's Northern Phosphate Basin. The exploration permit application, covering an area of 128km2, has been approved for a period of three years, subject to final approval by the Ministry of National Defence. The Sekarna project is considered an early stage analogue of Gassaat, sharing the same large scale and simple geology. The company's Managing Director, Taz Aldaoud, expressed enthusiasm for the approval, highlighting the significance of Sekarna in the larger phosphate basin hub and the company's commitment to responsible resource exploration. PhosCo aims to commence operations promptly upon the official gazetting of the permit, emphasizing its dedication to creating value for shareholders and contributing to the local economy. The company is assembling a district-scale phosphate portfolio in Tunisia's Northern Phosphate Basin, positioning itself for potential world-class fertilizer hub. The next steps involve seeking consent from the Ministry of Defence and publishing the permit in the official gazette. PhosCo's ambitions include leveraging the opportunity to create value for shareholders and contribute to the local economy, while maintaining a commitment to responsible resource exploration and growing presence in Tunisia's mineral sector.