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.