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Acron Sells Potash Holdings in Canada to Chinese Firm for $110 million

3:17 AM MDT | October 3, 2011 | Natasha Alperowicz

Acron’s (Velikii Novgorod, Russia) Canadian subsidiary North Atlantic Potash (Saskatoon, Saskatchewan) has completed the sale of eight of its potash permitted areas to China’s Yankuang Group Corporation for $110 million. The sale allows North Atlantic Potash to focus its activity on key areas of interest within its remaining potash permits in Saskatchewan. “The infusion of cash means the prioritization of advanced exploration and drilling required to delineate resources can now proceed through a systematic and strategic capital expenditure...

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