Name of the Project
Khemisset potash project.

Location
Northern Morocco.

Project Owner/s
Potash developer Emmerson PLC, through its subsidiaries Khemisset UK and Potasse de Khemisset.

Project Description
A feasibility study completed in June 2020 confirmed Khemisset as a world-class, low capital cost, high-margin potash mine.

The project will have a yearly run-of-mine extraction rate of six-million tonnes a year.

At full production, Khemisset could produce 810 000 t/y of muriate of potash (MoP) and one-million tonnes a year of de-icing salt over an initial 19-year mine life.

An in-depth scoping study on a new and innovative processing route at the project, released on February 1, will significantly reduce the project’s environmental impact and enhance its economic returns.

The scoping study sets out a novel proprietary processing method, the Khemisset Multi-Mineral Process (KMP), which involves the treatment of brine to remove magnesium and iron chlorides through the addition of phosphate and ammonia, allowing for the residual brine to be recycled in the plant.

The KMP offers environmental benefits by eliminating the need for deep well injection and reducing water consumption by about 50%.

In addition, the processing method creates two new slow-release fertiliser products, struvite and vivianite, while increasing the recovery rate of MoP from 85% to about 91%.

Struvite and vivianite command a price premium as multinutrient, slow-release fertiliser products, which reduce phosphate runoff, and allow for less frequent application by farmers, Emmerson has stated.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The addition of the KMP has increased the post-tax net present value (NPV) by 120%, to $2.2-billion, and the internal rate of return (IRR) to 40%. Without the KMP, the NPV would be $1-billion and the IRR 26%.

Capital Expenditure
When incorporating the KMP, capital expenditure is estimated to be $525-million, slightly down from $539-million for the original design.

Planned Start/End Date
The project can be built over two years.

Latest Developments
Emmerson’s direct and indirect subsidiaries, Khemisset UK and Potasse de Khemisset, filed a request for arbitration with the International Centre for Settlement of Investment Disputes in April 2025.

The claimants filed their memorial, together with documentary, witness and expert evidence, on March 27, 2026. They are seeking compensation of about $1.22-billion, net of local taxes and including interest, for alleged losses arising from Morocco’s breaches of the bilateral investment treaty between Morocco and the UK.

Morocco applied in May 2026 to have certain jurisdictional objections addressed in a separate preliminary phase. Following a hearing on June 19, the tribunal rejected the application on July 17.

The tribunal will, therefore, consider Morocco’s jurisdictional objections simultaneously with the merits of the claim. The timing of the next steps, including the combined hearing, has not yet been confirmed.

No construction schedule for the project has been confirmed while the investment dispute and arbitration process continues.

Key Contracts, Suppliers and Consultants
Golder Associates (feasibility study), including Moroccan Salts (consultant and resource geologists); Global Potash Solutions and Barr Associates (processing design); Barr Associates (engineering package for the mineral-processing facility); Reminex (balance of the basic engineering package); Reminex and BBA (due diligence on design assurance, operational readiness and risk management); and DeltaBEC (project infrastructure).

Contact Details for Project Information
Emmerson PLC, tel +44 207 236 1177.