PERTH (miningweekly.com) – ASX-listed junior FYI Resources has come a step closer to starting potash production in Laos, after agreeing to start joint venture (JV) negotiations with China’s Yuntianhua Group.
The two companies in February signed a memorandum of understanding covering potential potash project collaboration and resource development and production opportunities in Laos.
FYI told shareholders on Wednesday that the JV negotiations would centre on a collaboration on resource development and potential production at the Sino-Lao potash project, which has an established processing facility of 60 000 t/y, a significant potash deposit, and significant underground mine development and supporting infrastructure.
Any JV between the two companies would be conditional upon FYI completing a current due diligence before the end of May, and obtaining all the necessary shareholder and regulatory approvals.