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Crystal Peak Minerals' potash mine given go-ahead by US Department of the Interior

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World Fertilizer,

Crystal Peak Minerals Inc. has announced receipt of the Record of Decision (ROD) from the US Department of the Interior for its Sevier Playa Project (the Project), located in west central Utah.

The Assistant Secretary of the Interior for Land and Minerals Management, Joseph Balash, signed the ROD in a ceremony held earlier this week. The ROD is now in “full force and effect” indicating that playa construction is now authorised.

John Mansanti, CEO of Crystal Peak, said: “The signing of the ROD is the most important milestone in this company’s history. As one of the few greenfield SOP projects approved in the world, we are absolutely thrilled. Securing the ROD initiates an exciting phase for the Company. We look forward to a number of important announcements in the coming months in relation to financing, offtake, and the Project.”

Project update

Receipt of the ROD is a significant milestone for the Project and facilitates other key activities. These include:

  • In consultation with its advisers and prospective financiers, Crystal Peak has been working on optimisation opportunities and engineering required to develop the Project.
  • In parallel, the company is engaged with several off-take candidates with strong North American and global distribution networks.
  • Additionally, BNP Paribas continues to advise the company on securing debt financing for the Project, and the company is in advanced stages of selecting an advisor to assist with obtaining the required equity finance.

Upon receipt of funding and completion of detailed engineering, the company will be in a position to begin construction in 2020.

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