Manitoba Looking to Start Potash Mine

The Winnipeg Free Press reported that the Canadian province of Manitoba has sent an information package to a number of companies to gauge their interest in developing 28,024 hectares “of undeveloped, mineable high-grade potash deposits” north of Russell.

As quoted in the market news:

While there are some who believe the potash reserves in Manitoba are large enough to warrant production of a large-scale mine — which would mean the infusion of about $5 billion in capital investment into the province — industry experts are not very optimistic there will be any takers.

A provincial official stated:

We’ve just begun rolling out our marketing process, and we’re waiting for interested companies to complete their preliminary due diligence and respond by March 13, 2015. At this early stage, any comment on the potential outcome of the process and possible financial benefits would be pure speculation and therefore inappropriate.

Click here for the full Winnipeg Free Press report