04 July 2007 12:07 [Source: ICIS news]
LONDON (ICIS news)--Cleveland Potash Ltd (CPL) is set to receive a £1.95m ($975,000/€1.3m) grant from regional development agency One NorthEast which will provide a major boost to a project to access untapped resources at Europe’s deepest mine.
The funding will enable CPL to develop proposals with its parent company Israel Chemicals Ltd (ICL) to extend mining operations in the southeast area of the Boulby mine in East Cleveland, ?xml:namespace>
The project is aimed at safeguarding jobs within the 1,000 strong workforce and extending the life of the mine by at least another 20 years.
“It will have a major impact in assisting the company to achieve its strategic mine development targets,” said CPL general manager Graham Clarke.
“The project we want to undertake over the next three years will make a major contribution to developing the infrastructure for the long-term future of the business,” he added.
Boulby mine is the
The mine produces over 500,000 tonnes of potash and over 500,000 tonnes of salt annually, according to the ICL website.
($1 = €0.73)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|