News Column

Potash Corp to acquire Satimola potash deposit in Kazakhstan for $140mln

July 7, 2014



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 Mining Weekly reports Monday.

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.


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Source: AKIpress News Agency (Kyrgyz Republic)


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