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Kazakhstan Potash acquires new deposit, aims to become major potash player

5:20 AM MDT | July 7, 2014 | Natasha Alperowicz

Kazakhstan Potash Corp. (KPC; Melbourne), formerly known as Fortis Mining, a minerals exploration company listed on the Australian Stock Exchange, today informed the exchange that it has signed a new sale and purchase agreement covering the Satimola potash deposit in Kazakhstan. The board of KPC signed the agreement replacing the 1 May 2013 agreement to acquire 100% shareholding in Satimola Ltd., which holds the rights to the deposit via its wholly owned subsidiary Satbor. The balance of the purchase price is $140 million, KPC says.   As part of the...

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