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Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) announced results from an independent economic impact analysis for its Blawn Mountain Project in Utah. According to the report, the construction phase alone of the Project will generate approximately 7,300 jobs in Utah and the total Gross Regional Product will exceed US$1.1 billion per annum. During the operations stage, the subsequent mine and plant operations will generate on average 3,100 jobs during its 40-year mine life, and GRP is expected at $375 million per annum, with US$230 million to be generated in the local economy.
Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) announced results from an independent economic impact analysis for its Blawn Mountain Project in Utah. According to the report, the construction phase alone of the Project will generate approximately 7,300 jobs in Utah and the total Gross Regional Product will exceed US$1.1 billion per annum. During the operations stage, the subsequent mine and plant operations will generate on average 3,100 jobs during its 40-year mine life, and GRP is expected at $375 million per annum, with US$230 million to be generated in the local economy.
As quoted in the press release:
The Analysis sets out the anticipated economic benefits of the Project to the State of Utah and the local counties (Beaver County and Iron County) during the expected construction and operation stages. In total, the construction phase of the Project will generate approximately 7,300 jobs in Utah, with about 4,550 of those jobs benefitting the surrounding counties. The total Gross Regional Product (“GRP”) will exceed US$1.1 billion per annum in Utah during the construction phase through direct, indirect and induced impacts.
The Analysis anticipates that subsequent mine and plant operations will generate on average 3,100 jobs per year in Utah during the Project’s 40-year mine life, with over half being employed within Beaver and Iron Counties. The GRP in Utah throughout the operations stage is expected to beUS$375 million per annum, with US$230 million to be generated in the local economy.
Potash Ridge President and CEO, Guy Bentinck, said:
We are delighted to share the results of this Analysis and highlight the significant economic impact that our Project is expected to have locally and in the state. Additionally, the Project will provide an annual revenue stream for Utahpublic schools through royalty payments, which will directly benefit current and future generations of school kids in the state. We look forward to building on our strong partnership with the School andInstitutional Trust Lands Administration (“SITLA”) as we continue to advance our Project.
Click here to read the Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) press release
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