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Crystal Peak cleared to start construction of Utah potash project

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Crystal Peak cleared to start construction of Utah potash project

The U.S. Department of the Interior signed a record of decision that allows the Crystal Peak Minerals Inc. to start construction of its Sevier Playa sulfate of potash project in Utah.

Work is scheduled to start in 2020, pending the receipt of funding and completion of detailed engineering, according to an Aug. 28 release.

Crystal Peak said it is now engaged with several potential offtake partners. BNP Paribas is advising the company on securing debt financing.

A January 2018 feasibility study on the project outlined an after-tax net present value of US$730 million, at an 8% discount rate, and internal rate of return of 21%.