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Yara Invests in IC Potash, Signs Offtake Agreement

11:42 AM MDT | April 5, 2012 | Deepti Ramesh

Yara International and IC Potash Corp. (ICP; Toronto) say that Yara has agreed to make a strategic investment of about C$40 million ($40.1 million) in ICP and has entered into an offtake agreement for the purchase of 30% of all products produced by ICP’s Ochoa project in New Mexico for a period of 15 years. ICP and Yara have also agreed to discuss the possibility of establishing a jointly held entity for marketing products produced by the Ochoa project, the companies say.  ICP will issue to Yara 30,129,870 common shares and this will result in Yara...

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