Potash West (ASX:PWN) announced its entry into the potash market in Germany via a joint venture with East Exploration, whereby Potash West has the right to earn up to 55% by funding early exploration. The licence applications are located in the historical South Harz potash district.
As quoted in the press release:
The Joint Venture has applied for two exploration licence areas, both of which have historical drilling that intersected potash mineralisation over large areas. The drilling was carried out prior to the reunification of Germany in 1990. Potash production ceased in these areas in 1992, largely driven by depressed potash prices at the time. Prices have since risen by more than three fold.
Potash West NL (ASX:PWN,OTCPINK:PWNNY) dominates mineral tenure in Western Australia, one of the world’s largest glauconite deposits, with 12 exploration licenses and applications covering an area of more than 2,600 km2.
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