IC Potash's Ochoa Project is located in southeast New Mexico and consists of over 100,000 acres of federal subsurface potassium prospecting permits and State of New Mexico potassium mining leases.
Key features of the Ochoa Project are as follows:
- Highly advanced deposit with more than 400 million tons of proven and probable mineral reserves
- Long life mine with upwards of a hundred years of minable ore
- Ore used as feedstock to produce premium priced potash products including Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM")
- Base case production level of 568,000 tons per year of SOP and 275,000 tons of SOPM
- Forecasted to produce SOP and SOPM at the bottom quartile of the cost curve, with a forecasted total operating cost of $147 per ton
- Forecasted to have a low total capital cost and low capital cost per ton, with a total capital cost of $706 million
- Excellent mining jurisdiction in Southeast New Mexico with large producers present, established infrastructure, skilled labor, and established permitting processes
These combined project characteristics position the Ochoa Project as a leading potash development project.
