Block Commodities
| Public Limited Company | |
| Traded as | AIM: AFPO |
| ISIN | 🆔 |
| Industry | Mining |
| Founded 📆 | September 2011 |
| Founder 👔 | |
Area served 🗺️ | |
Key people | Chris Cleverly, Mark Simmonds, Lord Peter Hain, Elias Pungong |
| Products 📟 | Fertiliser, blockchain technology, medicinal cannabis |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Block Commodities (formerly African Potash) is a former AIM-listed fertiliser mining company which was active in the African continent before focusing on blockchain technology in 2018. In 2019, the company looked to the medicinal cannabis market, buying land in Sierra Leone, before its deals collapsed and the firm's shares were suspended.
History
Potash operations
The development of its fertiliser trading operations built upon a 70% interest in the 702.5 km2 Lac Dinga,[1] which it acquired in February 2013. Exploration conducted at Lac Dinga confirmed the presence of multiple potash seams with individual sample grades of up to 25% KCl (~15.8% K2O). Results indicated that the project had potash mineralisation consistent with the Congolese coastal basin, with about 250 km2 of the licence area interpreted to be underlain by salt-bearing strata, underpinning the potential to host significant commercial potash deposits.
The Lac Dinga Project is located in the Kouilou Department, extending 57 km NW-SE. It is adjacent to the Dougou Potash Deposit, part of the Sintoukola Potash Permit held by Elemental Minerals Limited and which has a JORC compliant assessment and indicated mineral resources of 1.1 Bt grading 20.6% KCl. The Makola licence of Evergreen Resources Holdings (BVI) Ltd is also located in the region.
In August 2015, African Potash entered into a trading agreement with COMESA and MACFF, signed by the Secretary General of COMESA, Sindiso Ngwenya. Under the terms of the agreement, it would supply and deliver at least 500,000 MT of fertiliser to off-takers identified and introduced by COMESA for an initial three-year period. After signing the agreement, African Potash secured multiple agreements to supply 50,000 MT of fertiliser to Zambia, 50,000 MT to Malawi, 150,000 MT to Zimbabwe and 150,000 MT to the DRC.[2][3]
On 26 October 2015, African Potash announced the appointment of former Conservative party Member of Parliament, Mark Simmonds to its board.[4] Two days later, former Cabinet Minister Peter Hain joined the Board.[5] It had a market capitalisation of approximately £0.9 million as of 20 April 2017. However, the business collapsed in value and was delisted from AIM.
Block Commodities
Renamed Block Commodities, the company then focused on blockchain technology in 2018.[6][7] In 2019, Block Commodities was licensed to grow and import medicinal cannabis, striking deals to buy land in Sierra Leone.[8] However, the deals then collapsed and the firm's shares were suspended.[6]
References
- ↑ "African Potash".
- ↑ "Looming storm trims gains made by commodity stocks". Telegraph.co.uk. 1 October 2015. Retrieved 2 November 2015.
- ↑ "African Potash surges after signing second fertiliser supply deal". Yahoo Finance UK. 1 September 2015. Archived from the original on 16 October 2015. Retrieved 2 November 2015. Unknown parameter
|url-status=ignored (help) - ↑ "African Potash appoints former politician to board". MINING.com. Retrieved 2 November 2015.
- ↑ Welsh, Tom. "City Moves for 29 October 2015 - Who's switching jobs". cityam.com. Retrieved 2 November 2015.
- ↑ 6.0 6.1 Nimmo, Jamie (4 September 2021). "The curious past of the West Ham bid team". The Times. Archived from the original on 4 September 2021. Retrieved 12 September 2022.
- ↑ "Vertu motoring along quite nicely amid uncertainty". ISSN 0140-0460. Retrieved 12 September 2022.
- ↑ Bovey, Chris (31 March 2019). "Cousin of Tory MP buys 4k acre cannabis grow". Feed The Birds. Retrieved 12 September 2022.
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