Thought I would just stick it up for ease of reading.
Love the line about "2nd biggest producer in the world". Pretty funny journalism, though it may be a typo meaning it may become the 2nd biggest producer in the world. At the moment I believe annual gross consumption is approx 55 mill tonnes, so with a resource this size it is certainly within the realms of possibility.
And what is up with the 10mill from the investment company. News to us???
KTO obviously K2O
Major potash operation one step closer to opening by Buckley Jensen San Juan Record Apr 27, 2011 | 240 views | 0 0 comments | 1 1 recommendations | email to a friend | print A major potash mining operation is moving ahead with hopes to begin operations in San Juan County. Details were discussed at the April 25 meeting of the San Juan County Commission.
Keith Price, an area manager working with TRH Inc., reported on progress of proposed mining operations north of Monticello in the Hatch Wash area of Dry Valley. While this is not a formal announcement, what follows is a status report to the commission.
The company has been working quietly in the area for years doing preliminary work on state lands. TRH, according to Price, is the second largest potash producer in the world.
He reports that last week, an investment company allocated an additional $10 million to continue drilling in the potash deposit and to begin drilling water wells.
The name of the investment company in Australia is Transit Holdings. The stock market symbol is KTO.
Price said the cooperation the company has received from San Juan County has been outstanding. In return, the company has committed to have offices in Monticello and employ as many San Juan County residents as possible in the slurry and trucking operations.
The upper end of the plan would ship up to two million tons of potash annually by truck to a railhead in Flagstaff, AZ for distribution across the nation and west to ports for shipment abroad.
TRH estimates a workforce of 250, in addition to the truck drivers and mechanics that will be necessary to move the potash to the railhead.
Commissioners congratulated Price on the progress and said that this could be a large boost to San Juan County growth and development.
TRH Price at posting:
80.0¢ Sentiment: LT Buy Disclosure: Held
