Potash Ridge Corp. has announced that it has signed an offtake and funding agreement with Jones-Hamilton Co.
Pursuant to the agreement, Jones-Hamilton will fund the hydrochloric acid equipment of Potash Ridge's Valleyfield Sulphate of Potash Project in Quebec. As part of this arrangement, Valleyfield will sell its production of hydrochloric acid from the Valleyfield facility to Jones-Hamilton for a minimum ten-year period.
"Jones-Hamilton's reputation, experience and established distribution networks make them an ideal partner for the sale of our by-product hydrochloric acid. We are also very pleased to have Jones-Hamilton participating in Valleyfield's financing through funding of the hydrochloric acid facilities," said Guy Bentinck, Potash Ridge's President and Chief Executive Officer. "The commitment from Jones Hamilton represents a major milestone in progressing this project into execution in early 2017, with production targeted to commence by year-end. We're in the advanced stage of securing project financing, and look forward to updating shareholders in due course."
"This agreement represents a great opportunity to enhance our presence in Eastern Canada and Northeast United States," said Bernie Murphy, President of Jones-Hamilton. "Valleyfield's demonstrated commitment to quality and reliability was an important factor in our decision to partner with Potash Ridge. We look forward to a long and mutually profitable relationship with Valleyfield and Potash Ridge."
Sulphate of potash is the world's most popular low-chloride fertilizer.
Read the article online at: https://www.worldfertilizer.com/potash/06102016/potash-ridge-partners-with-jones-hamilton/