Elemental Plans Financing for Congo Potash Project

Bloomberg reported that Elemental Minerals (ASX:ELM) plans to raise $1.7 billion so it can begin producing potash in the DRC by 2015.

As quoted in the market news:

Elemental may raise funds with a mix of bank loans, a stake sale and an off-take agreement, [CEO] Macpherson said. The company, which announced a resource of 804 million tons at the site, may double the figure in its update in the second quarter, he said.

Click here to read the full Bloomberg report.