Western Potash begins horizontal solution drilling
Western Potash Corp., a wholly-owned subsidiary of Western Resources Corp., has completed the Phase I production drilling programme at its potash mine in Saskatchewan, Canada.
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Western Potash Corp., a wholly-owned subsidiary of Western Resources Corp., has completed the Phase I production drilling programme at its potash mine in Saskatchewan, Canada.
The mineral resource estimate now stands at 537 million t of potash with an average grade of 9.24% K2O.
The contract covers deliveries to Indian Potash between October 2019 and 31 March 2020.
The order book was twice oversubscribed, with the offering generating strong demand from global institutional investors, including from the US, UK and Continental Europe.
The agreement includes a preliminary marketing plan that facilitates Gensource’s goal of creating a direct link between a potash producing facility in Saskatchewan, Canada, and the end user.
In order to make a FID, work on engineering to support project planning and on finalising the port solution is required, and the Board has approved US$144 million for these activities.
The contract has been awarded to G&S Engineering Services Pty Ltd (G&S), a wholly owned subsidiary of DRA Global Ltd (DRA).
Enhancements made to the planned design of the process plant and mine have increased the Muga project's net present value and internal rate of return to €1.97 billion and 25% respectively.
The increased curtailment is based on increasing inventories as a result of a short-term slowdown in global potash markets and increased risks of a delay in Chinese contract settlement.
The results from the drilling have led to the decision to drill another hole between the company's Muga project and the Vipasca permit area.
Transhipment Services Australia has been appointed to develop a cost-effective and fit-for-purpose shiploading solution which will be fully integrated with Agrimin’s planned Wyndham Port Facility.
The funds will be used to continue the work streams for the FEED study due to be delivered in 1H20.