IC Potash Announces Publication of Draft Environmental Impact Statement for Ochoa Sulphate of Potash Project
Marketwired
TORONTO--(Marketwired - Aug 12, 2013) - IC Potash Corp. ("ICP" or the "Company") (TSX: ICP) (OTCQX: ICPTF) today announced that the Notice of Availability of the Draft Environmental Impact Statement ("DEIS") for the Ochoa Sulphate of Potash ("SOP") Project in southeastern New Mexico was published by the U.S. Department of the Interior Bureau of Land Management (BLM) in the Federal Register Friday, August 9, 2013.
The DEIS is a disclosure document prepared by the BLM that describes the potential adverse or beneficial environmental and social impacts -- either direct, indirect or cumulative -- that could result from the development of the Ochoa Project. The DEIS describes more than two years of careful and comprehensive study of water resources, cultural resources, natural resources, air quality and other resources. The DEIS was prepared to assist the BLM in reaching a decision on whether to approve ICP's Mine Plan of Operations, requested rights-of-way and preference right leases; and if so, under what conditions.
As part of the decision making process, the BLM will solicit public comment on the DEIS. The public review and comment period will be open for 45 days, giving interested stakeholders the opportunity to make their opinions known to the BLM. During the review period, BLM will host three public meetings at the following times and locations:
August 27, 2013 - 4:00 PM - 6:30 PM - National Cave and Karst Research Institute, 400-1 Cascades Ave., Carlsbad, NM 88220
August 28, 2013 - 10:00 AM - 12:00 PM - Woolworth Community Library, 100 E. Utah Ave., Jal, NM 88252
August 28, 2013 - 4:00 PM - 6:30 PM - New Mexico Junior College, Training and Outreach Building, 5317 N. Lovington Hwy., Hobbs, NM 88240
According to Sidney Himmel, ICP President and CEO, "As this important study will show, ICP has designed a project that safeguards the environment while contributing to the economy of Southeastern New Mexico. This includes the use of deep, non-potable water to supply operations, an approach that will not affect shallow, fresh groundwater resources. The publication of the DEIS marks a key milestone for the Project, paving the way for the Company to break ground on construction of the mine and processing facility. With more than 100 full time employees and consultants currently engaged in the Project, it is expected that up to 1,400 new construction jobs, at peak construction activity, will be created; and up to 500 additional new permanent employees will be hired to support commercial operations once construction is completed and production is underway."
About IC Potash Corp. ICP intends to become a primary producer of Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM") by mining its 100%-owned Ochoa property in southeast New Mexico, a highly advanced polyhalite mineral deposit containing proven and probable reserves of more than 340 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash ("MOP"). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world, a market that is towards six million tonnes per year. SOP is a significant fertilizer in horticultural industries, particularly fruits, vegetables, tobacco and potatoes. SOP is applicable for soils where there are substantial agricultural activity, high soil salinity, and in arid regions. SOPM is a highly desirable potash product for soils with magnesium deficiency, and has a total global market size of over one million tonnes. ICP's Ochoa property consists of nearly 90,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases. For more information, please visit www.icpotash.com.
All scientific and technical disclosures in this press release have been prepared under the supervision of Terre Lane, an employee of ICP who is a Qualified Person within the meaning of National Instrument 43-101.
Forward-Looking Statements Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of ICP to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, reserve estimates, statements regarding the expected results of the FS and completion of the FS on schedule and on budget, ICP's expected position as one of the lowest cost producers of SOP in the world, the timing of receipt and publication of ICP's environmental permits, the sufficiency of ICP's cash balances, the timing of production, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the uncertainty of obtaining additional financing, and risks associated with turning reserves into product. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
