Potassium carbonate producer Organic Potash Corp. (OPC) will build multiple production facilities and change its funding practices as it works with strategic partners in major West African cocoa producing nations.
Additionally, OPC's board announced the resignation of director Michael Galloro as well as the termination of the subscription agreements and financing contracts with three investment groups from the People's Republic of China.
"We are pleased to see that the government of Ghana via the ETAIDFG, is reviewing the business in detail to potentially step up to the plate to assist in moving this venture forward," Heather Welner, president and CEO of OPC, said. "The funding, once approved and then received, will allow GC to use all of the knowledge gained from the initial plant and move the business toward successful commercial production. I am also very excited with the strategic change we are taking as we explore opportunities with strategic partners in other Western African countries."
OPC has already entered into an agreement with Mclean Ghana Ltd. (MGL), which will purchase 55 percent of issued and outstanding shares of GC Resources Ltd. from OPC.
More Stories
- ECOWAS awards women's agricultural innovations at MITA event
- Sierra Leone's president seeks investment at international dialogue on feeding Africa
- ECOWAS President meets with Economic Affairs Standing Committee in Abuja
- US Rep. Hill on Tigran Gambaryan: 'It’s well past time he return home safely'
- Sierra Leone's president seeks US collaboration on agriculture
- West African College inaugurates new hotel complex amid annual meeting
- ECOWAS funds youth training programs in agroforestry and fisheries
- ECOWAS experts meet in Lomé to discuss future strategic plans
- ECOWAS delegation assesses Guinea-Bissau stabilisation efforts
- ECOWAS partners with Ecobank on empowerment programme for women traders