The loss of export capacity as a result of the International Longshore and Warehouse Union Canada strike at the Port of Vancouver has curtailed Nutrien's expected potash production. (Source: https://www.worldfertilizer.com/potash/20072023/nutrien-announces-potash-production-curtailments-due-to-vancouver-port-strike/)
As the US currently exports 94% of its potash requirements from Canada, this poses a critical issue for agricultural development in the States.
In response to this critical issue, Sage Potash (SGPTF SAGE.v) has set its signs on bolstering US Self-Sufficiency and reducing import dependence through the development of the Plains Project in Utah's Paradox Basin.
Sage's Plains Project boasts a remarkable inferred resource of 279.5 million ton potash and an in-situ valuation of $18 billion, as well as the potential lithium potential. As the largest potash deposit in the US, the Plains Project is highly anticipated with its PEA expected to be released in the second half of 2023. Initial projections indicate a production capacity of 50,000 tonnes per year with plans to scale up to 150,000 tonnes over a span of 20 years.
Given the significance of potash and lithium in various modern applications, with potash being a critical component of fertilizer for global food production, and lithium being a key green metal in the global energy transition, Sage's venture holds substantial importance.
Additionally, it's worth noting that global leading potash and lithium producer Sociedad Quimica y Minera de Chile S.A (SQM) has a market cap of US$22.3B, further underscoring the massive opportunity that Sage has before them
Check out this Investor Intel article on Sage for more insight: https://investorintel.com/critical-minerals-rare-earths/sage-potash-expands-into-lithium-exploration-within-the-paradox-basin-in-utah-usa/