Release date: 6 January 2006
Promoter – Financial Intermediary
MagIndustries Corp. Contact point:
- William Burton, President & CEO
- 3154 North Wallace Road RR2
Wallace, Nova Scotia
Canada B0K 1Y0
Bankable feasibility studies and development works for a series of individual but interlinked projects, centred around the Kouilou magnesium deposits.
The main objective of the studies concerns the phased development of three industrial components: a potash plant, a magnesium smelter and the rehabilitation of hydro power station units. The two first components will both exploit the local Mengo deposits of carnallite and salt by solution mining techniques.
Proposed EIB finance (Approximate amount)
EUR 13 million.
Total cost (Approximate amount)
EUR 26.12 million.
The proposed studies and preparatory works have no negative environmental impact. However, full-scale social and environmental impact studies of the underlying industrial projects are part of the studies at this phase.
The selection of the technology suppliers and contractors for these studies and works has and will be based on expertise and experience following international negotiations.
Signed - 19/06/2006
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).