Key features of the Ochoa Project... Key features of the Ochoa Project:
- +414 million tons of proven and probable reserves in the entire proposed mine plan
- +838 million tons of measured and indicated mineral resources
- Project to produce premium price and premium quality SOP and SOPM
- +100 years of minable ore
- Base case production of 568,000 tons per year of SOP and 275,000 tons of SOPM
- Bottom quartile operating cost of $147 per ton and low capital cost of $706 million
- Positive economics with Net Present Value (after-tax) of $1.3 billion and Internal Rate of Return (after-tax) of 26%
Highlights
IC Potash's Ochoa Project is located in southeast New Mexico, an industrial region known for potash production. The project consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico potassium mining leases. The Ochoa Project is at the development stage and represents a long term source of premium quality potash for the US and international markets.
The IC Potash team has completed five years of exploration, engineering and permitting work on the project, and production is expected to commence in 2015. This positions the Ochoa Project as the most advanced stage Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM") project globally.