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KPC buys potash project in Kazakhstan

7th July 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Melbourne-based Kazakhstan Potash Corporation (KPC) has signed a sales and purchase agreement to acquire the Satimola potash deposit, in Kazakhstan for $140-million.

As part of the agreement, KPC would also issue the project holder Satimola with a $19-million loan to provide working capital and funds for creditor liabilities.

The Satimola deposit is located in West Kazakhstan, and KPC said on Monday that a Joint Ore Reserves Committee-compliant report had indicated a significant resource could be obtained from the project area.

KPC did not release any other information on the project.

The acquisition would be subject to regulatory and shareholder approval.

Edited by Creamer Media Reporter

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