(MENAFN- ProactiveInvestors - Australia) Elemental Minerals (ASX: ELM, TSX: ELM) executive director John Sanders has stepped down from his position with the company.
Sanders joined Elemental as general manager in October 2009 before being appointed as executive director in December 2010.
He was integral to the development of the Sintoukola Potash Project in the Republic of Congo.
Elemental recently completed a private placement raising A$14 million to advance the 93%-owned Sintoukola Project.
A Pre-Feasibility Study conducted on the project has indicated an after-tax NPV10 of US$2.97 billion and internal rate of return of 29.3%.
Production cash costs are tipped to be in the lowest quartile of global production costs at US$79.71 per tonne free-on-board.
Sintoukola is expected to produce around 2 million tonnes per annum of muriate of potash from a conventional underground mine with a 23 year life of mine.
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