Potash Minerals Ltd. announced officials at the U.S. Bureau of Land Management (BLM) have approved the K20 Hatch Point Potash exploration project run by its 90%-owned Utah LLC. Potash Minerals officials cited the approval as a milestone—not just for the project, but for the company as a whole.
“Currently the U.S. market is primarily supplied from imports,” said Director Ben Binninger. “New sources of domestic potash will help the U.S. become more self-sufficient in this critical agricultural commodity.”
The exploration permit for the K20 Utah potash project in San Juan County will be the first the state has seen in more than 25 years, according to the company, with the only applicant to receive a “Non-Known Potash Leasing Area Designation” in the period. This go-ahead also means the company’s independent geologists, Agapito Associates, Inc., can begin preparing resources as the project moves toward bankable feasibility, added Potash Minerals representatives.
Exploration targets estimated by Agapito for potash beds with 3.4 billion to 5.2 billion sylvinite tons represent an average grade of 23% to 34% KCl. The principal interest bed was also estimated at 3 billion to 4.6 billion tons of sylvinite grading 24% to 35% KCl.
Potash Minerals has earned 90% of the Paradox Basin potash project, covering 405 km in the Paradox Basin in southeast Utah with a focus on sylvinite, a high-grade potash ore cheaper and easier to process than any other form of the fertilizer. The Paradox Basin potash project is close to key U.S. agricultural regions and can supply fertilizer manufacturers and agricultural cooperatives in the western U.S. along with export potential given proximity to crucial railway infrastructure leading to West Coast ports.