TORONTO (miningweekly.com) – TSX V-listed IC Potash said on Monday it had started environmental permitting work at its Ochoa sulphate of potash (SOP) project in New Mexico.
The mine is expected to cost $662-million and produce 660 000 t/y of SOP, also called potassium sulphate, which is used to make crop fertilisers.
“The commencement of detailed environmental work is a significant milestone for the company as we progress towards the building of a world class SOP production facility,” IC Potash CEO Sidney Himmel said in a statement.
SOP is a mainly used as a fertiliser in the fruit, vegetable, tobacco and potato industries.
Last month, IC Potash raised $20-million in a bought deal offering to fund a prefeasibility study at Ochoa, which it said it would complete around September.
The company aims to start production in 2014, according to a presentation posted to its website.