Belarus expected to reduce potash output
Weaker global demand and falling prices were cited by Ivan Golovaty, chief executive at state-owned miner Belaruskali, for reducing production.
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Weaker global demand and falling prices were cited by Ivan Golovaty, chief executive at state-owned miner Belaruskali, for reducing production.
Major Project Status is the Australian Government's formal recognition of the national strategic significance of a project, through its contribution to economic growth, employment, or contribution to regional Australia.
The project includes development of the company's KL262 property and a proposed 3.25 million tpy solution potash mining operation in Saskatchewan, Canada.
Final geochemical assays are expected in coming weeks, which will allow an updated geological model and JORC Mineral Resource Estimate to be completed prior to the end of October 2019.
The company's revenue increased by 10% y/y to US$1543 million during 1H19.
Andrey Maruta has been appointed as Chief Financial Officer of the company, effective from 23 September 2019.
Upon receipt of funding and completion of detailed engineering, the company will be in a position to begin construction in 2020.
The company recorded total revenue for the six months ended 30 June of CAN$1.48 million.
The company has received letters of intent from KfW IPEX-Bank of Germany and Export Development Canada with regards to one of its small-scale production facilities in central Saskatchewan, Canada.
At 30 June 2019, Karnalyte Resources had cash of CAN$8.6 million, a positive working capital of CAN$8.7 million and no debt.
Encanto Potash Corp. is engaged in the development of potash properties in Saskatchewan, Canada.
Fritz Venter will also lead the project team managing the Milestone Potash Phase I project in Canada.