A new study says a planned potash mine in southeastern New Mexico would be economically viable for the next 50 years.
Intercontinental Potash Corporation recently released the study just before the company's Ochoa potash project breaks ground.
The polyhalite mine, located 27 miles west of Jal, has an estimated 414 million tons of polyhalite reserves beneath the 40 sections of land the company has leased from the Bureau of Land Management.
The independent study showed the mine could produce about 714,400 tons of sulphate of potash per year for a minimum of 50 years.
The study was led by SNC-Lavalin — an engineering and mining project consulting group — and recommended that Intercontinental Potash Corporation move forward with the project.
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Information from: Hobbs News-Sun, http://www.hobbsnews.com
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