TORONTO, Jan. 26, 2012 /CNW/ - IC Potash Corp. ("ICP" or the "Company") (TSX: ICP) (OTCQX: ICPTF) is pleased to announce that the U.S. Department of Interior Bureau of Land Management ("BLM") has commenced the formal public scoping process for the Ochoa Project by publication in the United States Federal Register. Public scoping meetings are being conducted by the BLM in local communities close to the Ochoa Project. Specific dates and locations for these meetings will be announced at least 15 days in advance of the first meeting in local media, newspapers, and the BLM website (http://www.blm.gov/nm/st/en/fo/Carlsbad_Field_Office.html). Three public meetings are being held this week.
Mr. Sidney Himmel, CEO of ICP, commented: "We look forward to working with members of the community throughout this process to deliver net benefits to all project stakeholders in the form of sustainable economic and social development. The launch of the public scoping process represents an important step forward as public input into the EIS process has now commenced. We are pleased with this milestone as it keeps the Ochoa Project on schedule."
As the lead federal agency overseeing the permitting of Ochoa, the BLM is required to comply with the National Environmental Policy Act ("NEPA") before authorizing project construction by approving the Mine Plan of Operations ("MPO"). The MPO was filed by ICP with the BLM on September 30, 2011. ICP anticipates the EIS process will be completed within the next 24 months.
For further information, please visit www.icpotash.com or contact Lisa Faiella at 778- 838-2887 or Sidney Himmel at 416-624-3781.
About IC Potash Corp.
ICP intends to become a primary producer of Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM") by mining its 100%-owned Polyhalite Ochoa property in New Mexico, a highly advanced mineral deposit containing proven and probable reserves of more than 400 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash ("MOP"). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world. The SOP market is towards six million tonnes per year. SOP is a significant fertilizer in the fruit, vegetable, tobacco, potato, and horticultural industries. SOP is also applicable in soils where there is substantial agricultural activity with varieties of crops and therefore where the salinity of the soil has increased, and in areas where soils are dry. SOPM is a highly desirable potash product for soils with magnesium deficiency, including those found in Europe and Southeast Asia and has a total global market size of over one million tonnes. ICP's Ochoa property consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For further information:
For further information, please visit www.icpotash.com or contact Lisa Faiella at +1-778-838- 2887 or Sidney Himmel at +1-416-624-3781.