Zangge Mining and Yuntu Holdings join Sarmin Group in the Kanga Potash project
Sarmin Group Inc. and the shareholders of Kanga Potash have signed a Share Purchase Agreement with Zangge Mining Development(Hainan) Co., Ltd., a wholly-owned subsidiary of Zangge Mining Company Limited, and Chengdu Yuntu Holding Co., Ltd. for the acquisition of 92% of the share capital of Kanga Potash, the company developing the Kanga potash project on the Atlantic coast of the Republic of Congo. Sarmin Group Inc. will retain an 8% interest in Kanga Potash and will remain a key partner in the project, alongside Zangge Mining and Yuntu, through its construction phase and until it enters production.
The Share Purchase Agreement was signed on 18 September 2026 at the head office of Zangge Mining in Chengdu, Sichuan province, at the end of three weeks of intensive negotiations between the parties and their advisers. The transaction has been approved by the Executive Investment Committee of Zijin Mining Group, the controlling shareholder of Zangge Mining, and by the shareholders of Kanga Potash. The transaction will allow the Kanga project to draw on leading industrial partners in China: Zangge Mining, one of China’s principal potash producers and a subsidiary of one of the world’s major mining groups, and Yuntu, one of China’s principal compound fertiliser producers. It is also Zangge Mining’s first investment on the African continent and marks a major step in the group’s international development. Completion of the transaction remains subject to the satisfaction of several regulatory conditions precedent, in particular the required approvals of the competent Chinese authorities and the issue of a letter of no objection by the Ministry of Mining Industry and Geology of the Republic of Congo.
Read more here of the transaction structure, expected completion schedule and the partners.
Zangge Mining Company Limited (Shenzhen Stock Exchange: 000408) is one of China’s largest potash producers, operating on the Qarhan salt lake in Qinghai, with a growing lithium business in Qinghai and Xizang, an interest in the Julong copper mine and a potash development in Laos. Since 2025 it has been controlled by Zijin Mining Group, one of the world’s largest gold and copper producers. Kanga Potash is its first investment in Africa and gives it a seaborne potash position on the Atlantic, facing the Brazilian and West African markets.
Chengdu Yuntu Holding Co., Ltd. (Shenzhen Stock Exchange: 002539), headquartered in Chengdu, is one of China’s leading compound-fertiliser producers and leverages Hubei’s salt mine resources to build an integrated industrial chain covering phosphate compound fertilisers, phosphorus chemicals, new energy materials, salt chemicals and soda ash chemicals. As a partner in the purchaser it brings a fertiliser producer’s view of potash to the project and a direct route into the Chinese and Asian fertiliser markets.
Kanga Potash (“KP”) Kanga Potash holds the Kanga exploitation permit and the Loango exploration permit on the Atlantic coast of the Republic of Congo, sixty kilometres from Pointe-Noire, under a 25-year Convention Minière with the Republic of Congo. Its final feasibility study provides for a muriate of potash operation of up to 2.4 million tonnes per year on a carnallite deposit, with gas, water and port access within reach. The project was founded and developed by Sarmin Group Inc. and its Congolese subsidiaries.
Sarmin Group Inc. Sarmin Group is a Barbados-based investment and development group active in mining, energy and infrastructure in Central and West Africa. It founded Kanga Potash and has led the project from exploration through the feasibility study, the Convention Minière and the present transaction. It remains a shareholder of Kanga Potash and a partner of Zangge Mining and Yuntu Holdings in the next phase of the project.