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Arianne Phosphate (TSXV:DAN) has exercised options held on land at Sainte-Rose-du-Nord, which is projected to be the future site of the port. Brian Ostroff, CEO, said: This is an important step forward for the Company and its development. As with all large scale projects, transportation logistics are a vital contributor to overall success. The Arianne …
Arianne Phosphate (TSXV:DAN) has exercised options held on land at Sainte-Rose-du-Nord, which is projected to be the future site of the port.
Brian Ostroff, CEO, said:
This is an important step forward for the Company and its development. As with all large scale projects, transportation logistics are a vital contributor to overall success. The Arianne team in Chicoutimi has continued their work with the Port of Saguenay as well as the local communities and stakeholders. The overwhelming support we have received for the project and the necessary timelines have led us to proceed with the exercising of our land options as we move towards the realization of our Lac à Paul project.
As quoted in the press release:
The Lac à Paul project is the world’s largest greenfield phosphate rock project. During construction, Raymond Chabot Grant Thornton estimated that the project would employ roughly 2,300 people and, according to the Company’s 2013 Feasibility Study, once in production, will be capable of producing 3 million tons a year of high purity concentrate necessary for the production of fertilizer as well as many other applications that touch our daily lives. Recent global events have highlighted the importance of phosphate rock quality and, at 39% with very low contaminant levels, Arianne’s high purity phosphate should continue to receive increased interest as the Company continues its discussions with potential corporate and financial partners.
Click here to read the full press release.