Potash Ridge clears hurdle for US project in Utah

24 March 2014 22:36 Source:ICIS News

HOUSTON (ICIS)--Canadian fertilizer producer Potash Ridge announced on Monday that the US Army Corps of Engineers has determined there are no federal waters located within its Utah project and therefore it will not require any federal permits for the site.

With the Corps's ruling, Potash Ridge is now able to develop the site upon securing the remaining state permits.

Toronto-based Potash Ridge’s flagship project is Blawn Mountain Project located on approximately 15,400 acres (6,240 ha) in southwestern Utah. The project’s goal is make significant amounts of sulfate of potash (SOP).

The company is projecting annual SOP production of 645,000 tonnes when at full capacity, with the extractable deposits estimated at 26.4m tonnes over the 40 year lifecycle of the mine. It is also anticipated that sulphuric acid will be produced at the site.

The SOP will be marketed domestically and globally. The sulphuric acid will be marketed to existing US phosphate producers as well as to copper and gold miners in the region.

Potash Ridge previously said construction is scheduled to begin in late 2015, with production starting in 2017 and the operation reaching full capacity by 2019.

Initial capital cost for the project has been calculated at $1.1bn, with the company anticipating possibly spending approximately $641m in additional funding for infrastructure and utility upgrades.

By Mark Milam