GENSOURCE POTASH, a fertilizer development company based in Saskatoon, Canada, has acquired an additional potash permit area, Block 59, through the recent Government of Saskatchewan public offering of subsurface Mineral Crown Dispositions S010. Block 59 abuts existing Gensource leases, is approximately 7244 hectares and represents a direct addition to mineral leases KL244 and KL245 in Gensource’s Vanguard Area. Block 59 is located immediately north of KL245 in the Rural Municipality of Huron No.223, which is the location of Gensource’s Tugaske potash project, the company’s first modular potash production project. The total price paid to the Government of Saskatchewan for Block 59 was CAN$103 305, or CAN$14.26 per hectare of Crown mineral rights and will be satisfied from existing cash resources. “Gensource is leading the way to what it believes is the future of the potash industry and this land addition is an exciting opportunity to complete further geological and project development work towards a potential new project,” the company’s President and CEO Mike Ferguson commented. “We are already seeing new players following Gensource’s lead, but the combination of Gensource’s technical expertise to actually implement a project, innovative business thinking, and first mover advantage means exciting things ahead for the Company as we engage with new potential partners for future projects.”
YARA INTERNATIONAL, the Norwegian chemical firm and fertilizer producer, has said it is gradually reducing its imports of potash fertilizer from Belarus as a result of international sanctions on the regime of authoritarian ruler Alyaksandr Lukashenka. The EU, U.S., and key Western allies have slapped several rounds of sanctions on Belarus’s political and economic elite after a crackdown on protests triggered by Lukashenka’s widely disputed reelection in August 2020 and amid an ongoing crisis over thousands of Middle Eastern migrants amassed at Belarus’s border with EU member Poland. The punitive measures targeted Belarusian entities including a complete asset freeze on OJSC Belaruskali, a global leader in potash fertilizer — one of Belarus’s main exports. Estimates from Yara say the company buys about 10-15% of Belaruskali’s output. The Norwegian fertilizer producer said in a statement published on 10 January that although the chemical firm’s activity in Belarus is currently complying with international sanctions, “other parts of the supply chain are withdrawing essential services required to enable potash exports from Belarus, as a result of which Yara has initiated a wind-down in sourcing activities.” Despite the phasing out of potash imports, Yara International pledged not to abandon its efforts to improve work safety for Belaruskali employees.
AUSTRALIAN POTASH, an Australian company that engages in the exploration of mineral properties on the continent, focusing on potash, gold, and nickel sulphide minerals, and namely its approach to managing Environmental, Social, and Corporate Governance (ESG) has been given a green tick from Perth-based ESG natural resources investment fund Eden Global. The Eden Global Natural Resources UCITS Fund, which is classified as a ‘Light Green’ Fund under Article 8 of the EU Sustainable Finance Disclosure Regulation has increased its holding due to Australian Potash’s progressive approach to sustainability, which offers a ‘special situations’ high potential return opportunity for investors. The Eden fund is backed by institutional investors who are focused on sustainable investments which respond to environmental and social challenges. Eden’s due diligence review found Australian Potash to be an attractive investment proposition, with the fund looking to support investment into APC on a long-term basis as fund inflows permit. Funds invested in APC are being used to develop the company’s flagship sulfate of potash project, Lake Wells, in the north-eastern Goldfields region of Western Australia. “Australian Potash fits into our portfolio under ‘special situations’, Fund Manager Matthew Hall said. “We take a more active approach with our investments and due diligence, and actively engage to drive transformational positive change within the sector.” Lake Wells is expected to begin production in the second half of 2023, and once operational, will produce an estimated 170 000 tpy of premium SOP over a 30-year mine life.
