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Karnalyte announces closing date for GSFC investment, receives approval for Wynyard potash project

7:32 AM MST | February 12, 2013 | Francinia Protti-Alvarez

Karnalyte (Okotoks, AB) will receive an investment of about $45 million from Gujarat State Fertilizers & Chemicals (GSFC; Vadodara, India) for the development of Karnalyte’s potash project at Wynyard, SK, Karnalyte has announced. The closing date for the investment is anticipated to be about 22 February. GSFC, as part of the deal, will also sign a committed offtake agreement for the sale and purchase of approximately 350,000 m.t./year of potash from the project's phase 1, increasing to 600,000 m.t./year with the commencement of phase 2. Karnalyte...

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