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
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.
SOURCE IC Potash Corp.
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.