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.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AKIpress News Agency (Kyrgyz Republic)

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