TORONTO, April 30, 2012 /CNW/ - IC Potash Corp. (TSX: ICP) (OTCQX: ICPTF) ("ICP" or the "Company") announced today that Mr. Jorgen Stenvold has joined the Board of IC Potash, effective immediately. Mr. Stenvold is currently the Project Development Director of Yara International ASA ("Yara").
Mr. Sidney Himmel, CEO and Director of ICP commented, "We are delighted to have Mr. Stenvold join our Board of Directors. Mr. Stenvold has a considerable amount of experience in potash and mining and represents ICP's direct channel of communication with Yara. Mr. Stenvold was intimately involved in the formation of the partnership between ICP and Yara, and has an excellent understanding of our mutual business objectives. On behalf of the Board of Directors, I extend a warm welcome to Mr. Stenvold."
Mr. Stenvold is a mining professional with 12 years of experience from developing mining projects in Norway and globally. His experience spans from exploration manager positions for coal in extreme arctic areas to establishing a junior company exploring for gold in Scandinavia. Through his current position as Project Development Director in Yara International ASA, Mr. Stenvold has the last two years been responsible for evaluating and developing phosphate and potash projects globally. Mr Stenvold holds a Master´s degree in Economic Geology from The Norwegian University of Technology and Science supported by Executive management courses in innovation from MIT Sloan.
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.
For further information:
For further information, please visit www.icpotash.com or contact Sidney Himmel at +1.416-624-3781 or +1.575-993-2758.