Akron buys license to prospect potassium deposits in Canada

Tag : Potassium Chemicals

MOSCOW, June 26 (RIA Novosti) - Russia's leading mineral fertilizerproducer Akron said Thursday it had paid about $60 million for 98%in Canada's 101109718 Saskatchewan Ltd., which owns the rights tovast potassium salt deposits.

Akron said over half the sum has been put into the company'sauthorized capital.

The Saskatchewan basin in Canada is one of the world's largestareas rich in potassium-magnesium salts. Recoverable reserves ofpotassium oxide in the nine most promising deposits total 5 billionmetric tons.

Akron produces more than 40 types of chemicals, with annual outputtotaling around 4 million metric tons.