Nigerian billionaire Aliko Dangote announced an investment of over $1 billion to develop a phosphate project in Senegal. The announcement came on Friday, February 2, following fruitful discussions with Senegalese President Macky Sall at the Presidential Palace in Dakar.

The investor stressed that the project will commence “as soon as we receive our license”. Senegal boasts phosphate reserves exceeding one billion tons, providing a resource for about 500 years based on an average annual production of 2 million tons.

For more information, please see https://www.ecofinagency.com/finance/0602-45183-dangote-plans-1bn-investment-in-senegals-phosphate-exploitation