11 June 2013 14:05 [Source: ICIS news]
HOUSTON (ICIS)--IC Potash has made further progress in developing its sulphate of potash (SOP) project in New Mexico, the Toronto-listed firm said on Tuesday.
IC Potash said that the US Army Corps of Engineers determined that the project will not impact US waters.
This means that IC Potash will not require the Corps' authorisation to proceed with constructing the mine and processing plant, nor will it be subject to ongoing monitoring once commercial operations begin, the company said.
"This jurisdictional determination by the Corps represents a significant development for IC Potash, ultimately saving us considerable time, cost and manpower in the overall permitting process for our project," said CEO Sidney Himmel.
The project is in its "advanced development phase", the company said. The company is undertaking a feasibility study and expects to publish its results in September, it added.
According to information on IC Potash's website, construction of the project is expected to start in April 2014. Production is expected to begin in 2016.
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