here it is - water deal WebBroker Alert
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Sustainable Recycled Water Source Approved for Milestone Potash Project
bwire
VANCOUVER, British Columbia (Business Wire) -- Western Potash Corp. (TSX: WPX) (FSE: AHE) ("the Company")
-- On Monday, June 25 the City of Regina approved the Key Commercial
Terms (the "Agreement") that will see a large portion of the City's
treated sewage effluent routed to Western Potash Corp.'s Milestone
Potash mine site, located approximately 30 km Southeast of Regina and 80
km Southeast of Mosaic's Belle Plaine mining lease.
The Agreement, if paid out annually, is worth more than $200 million to
the City of Regina over the 45 year term of the Agreement and will see
up to 60,000 cubic metres of treated effluent diverted daily from the
Regina wastewater treatment plant to the Milestone Potash Project mine
site. The City of Regina, as the proponent of the Agreement, will
operate the pump house and pipeline and will be responsible for
obtaining all necessary environmental approvals. Western Potash will
fund the capital costs associated with the construction of the pump
house and pipeline.
"Western Potash is delighted to have reached this Agreement with the
City of Regina and is pleased to be working together to sustainably
innovate the potash solution mining process," says Western Potash Corp.
President and CEO Patricio Varas. "There are certainly no other potash
solution mines in the world utilizing treated waste water."
Once up and running, the Milestone Project will draw between 40% and 70%
of the City of Regina's wastewater.
"This innovation is a win-win for everyone," said Acting Deputy Mayor
Louis Browne. "Not only is the City of Regina now being compensated for
treating a waste product, but we are facilitating economic growth in one
of Saskatchewan's key sectors: Potash development. In addition,
downstream negative effects such as increased algae will also be
alleviated, making this is a prime example how creative thinking and
partnerships can yield a more promising future for everyone."
The Milestone Project holds 66.6 million tonnes of Measured recoverable
resource (content and grade that can be measured with a high degree of
accuracy); 186.9 million tonnes of Indicated recoverable resource
(content and grade that can be measured with a reasonable level of
accuracy); and 708.2 million tonnes of Inferred recoverable resource.
The Milestone Project contains potash resources of sufficient size and
grade to support solution mining for more than 40 years at a production
rate of 2.8 million tonnes per year. The in-house qualified persons for
the purposes of NI 43-101 guidelines are J. Patricio Varas, P. Geo and
Dean Pekeski, P. Geo, both of whom have reviewed and approved the
contents of this news release.