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ICL Reaches Agreement with Israeli Government on Dead Sea Salt Harvesting Project

7:35 AM MST | December 29, 2011 | Sotirios Frantzanas

Israel Chemicals Ltd. (ICL; Tel Aviv) has reached agreement with Israel's ministry of finance regarding ICL's cost and obligations for a Dead Sea salt harvesting project, and the level of royalties that ICL will pay on potash mined from the Dead Sea. A final agreement is pending approval by the Israeli government. ICL says the agreement reduces uncertainties regarding ICL's activities in the Dead Sea, while insuring the "viable co-existence of tourism and industry" the the area. The Dead Sea salt harvesting project is designed to address...

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