IC Potash Corp Receives Approval for Ochoa Project

IC Potash Corp. (TSX: ICP,OTCQX:ICPTF) has received notice of a record of decision published by the U.S. Department of the Interior, Bureau of Land Management that authorizes ICP to construct and operate its wholly owned Sulphate of Potash Ochoa Project in southeast New Mexico. Based on analysis described in the final environmental impact statement, the signed ROD represents a final decision from the Bureau.

As quoted in the press release:

Federal law requires the BLM to prepare an EIS for major federal actions that may have a significant impact on the environment. During the EIS process, which is now complete, the BLM evaluated the potential impacts that could result from the Project, consulted with other federal, state, and local agencies, and considered comments received from the public regarding the Project. Based on more than two years of careful and comprehensive study of water resources, cultural resources, natural resources, air quality and other resources, the BLM issued their decision approving the construction and operation of the Project and granting the requested rights of way for the Project facilities.

IC Potash CEO, Sidney Himmel, said:

We are pleased with the favorable Record of Decision from the Bureau of Land Management and are poised to move forward on implementation. We expect that the Ochoa Project will be one of the largest Sulphate of Potash projects in the world. We also expect that it will satisfy the world’s unmet need for Sulphate of Potash. Recently, the premium in the price of Sulphate of Potash relative to regular potash has increased in all world markets. The next big steps involve financing. We anticipate that we will work with the world’s largest resource banks and industry players to finance this project.

Click here to read the IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) press release