Reuters reported that Western Potash Corp. is looking for investors in order to build a potash mine in Western Canada. Potential joint venture partners include India’s Rashtriya Chemicals and Fertilizers Ltd.
As quoted in the report:
Western Potash plans to build the Milestone mine southeast of Regina, Saskatchewan, by 2016 and eventually produce 2.8 million tonnes of potash, a key soil nutrient for growing crops.
John Costigan, vice president of corporate development for Vancouver, British Columbia-based Western Potash, commented:
We have talked to and are talking to (Rashtriya). I would say right now they’re one of numerous players. These big companies move very slowly, and we’re proceeding cautiously too.
We don’t want to get in bed with the wrong player.