The world’s two biggest mining companies, BHP Billiton (LON:BHP) and Vale, recently delayed decisions on building their own potash mines in Saskatchewan, which is home to more than 40 per cent of the world’s potash reserves.
Western Potash recently submitted an environmental impact statement to the Saskatchewan government about the Milestone project.
Following a technical review by regulatory agencies, the report will be available for public review and will be available on the company's website - expected sometime in the fourth quarter.
The report was submitted to the Saskatchewan Ministry of Environment for the project, which is located 30 kilometres southeast of Regina and 80 kilometres from Mosaic's Belle Plaine mining lease.
The environmental report details features designed to minimize the potential impacts of the project to the environment, while "optimizing social and economic benefits" to the local and regional communities.
Once up and running, Western Potash said the Milestone project will draw between 40 per cent and 70 per cent of the City of Regina‘s wastewater. The agreement, if paid out annually, is worth more than $200 million to the city over a 45 year term.
Under NI 43-101 guidelines, the Milestone project holds 66.6 million tonnes of measured recoverable resource, 186.9 million tonnes of indicated recoverable resource and 708.2 million tonnes of inferred recoverable resource.