Prospect Global Resources Signs $2 Billion Deal with Chinese Company

Bloomberg reported that Prospect Global Resources has signed a $2 Billion supply deal with Chinese company, Sichuan Chemical Industry Holding Group, in a bid to secure project financing.

As quoted in the market report:

The Denver-based potash exploration company will sell the crop nutrient to Sichuan Chemical from its American West Potash project in Holbrook, Arizona. State-owned Sichuan Chemical will buy at least 500,000 tons a year for 10 years for export to China, the companies said in a statement.

To view the whole Bloomberg report, click here.