K+S, Germany’s potash giant, has signed a letter of intent with the Swedish company Cinis Fertilizer on future cooperation in the synthetic production of potassium sulfate (SOP). Under the planned agreement, K+S intends to supply Cinis Fertilizer with its entire potassium chloride (MOP) requirements. In return, K+S could purchase up to 600 000 tpy of potassium sulfate (SOP) from Cinis. “The agreement fits perfectly with our new corporate strategy, which includes the expansion of our core business through cooperation,” says Burkhard Lohr, K+S Chairman of the Board of Executive Directors. As a result, K+S will secure additional quantities of the specialty fertilizer potassium sulfate that will enable it to be in an even better position to supply its customers as well as to acquire new customers. Cinis Fertilizer is planning the synthetic production of potassium sulfate in the so-called Glaserite process at several production sites in Scandinavia. In addition to potassium chloride supplied by K+S, the company will use residues from battery, pulp, and paper production as raw material and renewable energy. Sodium chloride (salt) is also generated as a by-product in the production of potassium sulfate.
HIGHFIELD RESOURCES, an ASX-listed potash developer with three 100% owned projects in Northern Spain, has announced that initial construction work at the Muga Mine has started after the Townhall of Undués de Lerda in Aragón issued the licence for the construction of the mine gate and the declines. Highfield Resources has signed a construction contract with Acciona Construcción S.A. for these initial works which cover fencing of the plot, installation of the ground construction staff facilities, clearing and stockpiling of topsoil, excavation of the mine entrance, formation of embankments and stabilization of the slopes. “We start construction at Muga with a great sense of responsibility towards our shareholders, our staff and collaborators, the banks, the community, the authorities and all stakeholders who have helped us to get to this pivotal point,“ the company’s CEO, Ignacio Salazar, commented. “We are receiving a significant endorsement from leading international banks in the financing process in this time of extreme geopolitical instability around potash supply, especially in Europe. We are working closely with the authorities and especially Navarra and Sangüesa to finalize the licensing there and will be reporting back to the market as we progress through construction.”
KORE POTASH, an advanced stage mineral exploration and development company that is incorporated in the UK, has signed a Heads of Agreement with SEPCO Electric Power Construction Corporation for the construction of the Kola Potash Project that is located in xxx. The agreement was signed in the presence of the Minister of State and Minister of Mining, Industry and Geology of the Republic of Congo, Mr Pierre Oba. The agreement recognizes the recent Kola optimization study outcomes and confirms that firstly, the project is designed with capability to produce 2.2 Mtpa of granular Muriate of Potash over its initial 31-year life; secondly, the Kola construction period will be 40 months; thirdly, the capital cost to construct Kola will be US$ 1.83 billion; fourthly, the capital cost of the underground works component of Kola may be reviewed following completion of additional investigations by SEPCO during the pre-construction engineering design phase, among other provisions. The Summit Consortium has reaffirmed their commitment to provide Kore with a financing proposal for the full construction cost of Kola, and that the financing proposal will be provided after Kore has received the EPC proposal and has agreed with SEPCO on the key EPC terms.
WESTERN RESOURCES, a Canada-based mining and exploration company, has announced that its subsidiary, Western Potash Corp. hosted a delegation of thirteen officials from three different Ministries of the Saskatchewan government for a mine tour recently at the Milestone Project site. After closing financing deals with Appian Capital and Vantage Chance in May, the Project kicked off with key contractors in mid-June, with mobilizations now occurring at the site. Officials from the Ministry of Trade and Export Development, Ministry of Energy and Resources, as well as the Ministry of Environment attended the event. Mark Fracchia, Western’s Chairman of the Executive Committee, presided over the project briefing session. President and CEO Bill Xue and Operations Director Brandon Bartosh presented on the company’s history, the innovative mining technology, the current status of the Project and the construction plan, and future development options. The presentation was followed by a mine tour. The intent of this meeting and tour was to provide officials with a much better understanding of the Project and of the future direction of Western Potash.
