Potash Ridge Corp. has announced that it has signed a memorandum of understanding (MoU) with GSFC Agro Tech Ltd (GATL) for the supply of 50 000 tpy of SOP offtake from its Blawn Mountain SOP project in Utah, US.
The CEO of Potash Ridge, Andrew Squires, said: “Executing an MoU for supply of 50 000 tpy SOP from a 100% subsidiary of a major Indian joint sector fertilizer company is a significant accomplishment for the company and a key stepping stone in the financing and development of the Blawn Mountain project. The company has been in negotiations with other SE Asia SOEs (State Owned Enterprises) since 3Q17 and anticipates closing additional offtake MoUs in the very near future with the intent of achieving offtake commitments for a majority portion of the initial 255 000 tpy of potassium sulphate (SOP) production capacity. The company will continue to provide updates as these discussions move forward.”
Read the article online at: https://www.worldfertilizer.com/potash/30042018/potash-ridge-signs-offtake-mou-with-gsfc-agro-tech/
Sequoia and the Commonwealth Bank of Australia will invest US$39 million and US$25 million respectively into the facility, complimenting existing investments led and arranged by Taurus Mining Finance Fund No. 2 L.P (Taurus) and the Australian Government’s Clean Energy Finance Corp. (CEFC).