Reflecting the company’s shift toward potash production from Chilean brine salars, Pan American Lithium will change its name to First Potash Corp. Incorporated in British Columbia, Canada. The headquarters will remain in Tucson, Arizona, USA.
The company made the decision based on several reasons. Legal challenges related to Chilean lithium properties have made the legal path toward commercialization of lithium less clear than ever. The company also believes the long-term fundamentals of potash and its portfolio of 10 brine salar properties in the Atacama Region are very attractive.
“Our company has been working to advance the potash commercialization of our potash properties for some time, and these recent events in Chile just accelerate a process that was already under way,” said Andrew Brodkey, CEO, First Potash Corp. “We believe Chile is still one of the best mining jurisdictions in the world and we believe the government of Chile will come to a long-term solution with respect to lithium rights. In the meantime, we are very excited about the shift in focus to what we think will be a very attractive commodity resource play, and also one that we believe will be important to help ensure food safety around the world.”