As highlighted in the video linked below by Sage Potash (traded as SGPTF or SAGE for Canadian investors), the United States requires a domestic supply of potash to ensure food security and decrease transportation expenses. Potash is a crucial fertilizer that supports the vast agricultural sector in the country BUT Freight and storage costs for importing potash from Canada (the largest potash supplier to the US) range from $150 to $225 per ton.
Full Video Here:
SGPTF is looking to bolster domestic potash supply with its Sage Plain Potash Project in Utah. Not only is Utah a forward-thinking, secure, and stable region for mining but it has massive untapped potash resources. Additionally, the project is located within the Paradox Basin which is estimated to hold 2 billion tons of potash, including high-grade deposits.
SGPTF intends to employ the Dual Well Solution Mining technique to extract potash from the estimated 279.5 million metric tons of potash resources on the project.
This mining method employs water, and SGPTF recently announced that it has obtained water authorization from Utah's Department of Natural Resources Division of Water Rights. This authorization allows SGPTF to withdraw up to 0.207 cubic feet per second (CFS) or 150 acre-feet of brackish water annually from the Sage Plain Project. This environmentally friendly approach not only contributes to ecological sustainability but also is expected to lower initial capital and production expenses.
Lithium deposits have also been identified at the Sage Plain Project. With SGPTF having created a specialized subsidiary known as Sage Lithium and holding the rights for extracting saline minerals at the project site, there exists a promising opportunity for economically extracting lithium from the brine resources found there.
Company Website: https://sagepotash.com/ Posted on behalf of Sage Potash Corp.