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Encanto Potash Mine Built on First Nation Reserve Will Make First Nations a Global Exporter
Jun. 12, 2017 08:26AM PST
Potash Investing
Encanto Potash (“Encanto” or the “Company”) (TSXV: EPO), which has signed an agreement to supply India with potash over 20 years, would have the capacity to produce and export 3.4 million tonnes of potash annually, according to a recently completed Preliminary Economic Assessment (“PEA”) by Amec Foster Wheeler. The estimated 20 per cent increase in …
Encanto Potash (“Encanto” or the “Company”) (TSXV: EPO), which has signed an agreement to supply India with potash over 20 years, would have the capacity to produce and export 3.4 million tonnes of potash annually, according to a recently completed Preliminary Economic Assessment (“PEA”) by Amec Foster Wheeler.
The estimated 20 per cent increase in production potential, based on adoption of greater plant capacity, can be maintained for more than 48 years, according to the PEA prepared by Amec Foster Wheeler.
Encanto, in partnership with the Muskowekwan First Nation (“MFN”), is developing Canada’s first potash mine on a First Nation reserve in south-east Saskatchewan. Encanto recently signed a contract with NACOF, the Government of India subsidized Farmers’ Co-Operative, to supply five million tonnes of potash annually for 20 years.
Encanto President and CEO Stavros Daskos said:
“We are confident that we will continue to succeed in building Encanto into a global industrial company, and deliver to the First Nations in Canada and to India a food security contract through long-term supply.”