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SOP

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TSXV:SOP TSX Venture Common Stock
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BLM Approves Construction and Operation of IC Potash Corp.'s Ochoa Project in Signed Record of Decision

14/04/2014 12:30pm

Marketwired Canada


IC Potash Corp. (TSX: ICP) (OTCQX: ICPTF) ("ICP" or the "Company") announced
today that the Company has received notice that the U.S. Department of the
Interior, Bureau of Land Management ("BLM") has published a Record of Decision
("ROD") that authorizes ICP to construct and operate its 100%-owned Sulphate of
Potash Ochoa Project (the "Project"), including all mining and processing
facilities located in southeast New Mexico, U.S.A. The signed ROD marks the
final decision made by the BLM based on the analysis described in the Final
Environmental Impact Statement ("EIS"). 


Sidney Himmel, President and Chief Executive Officer of IC Potash Corp., stated,
"We are pleased with the favorable Record of Decision from the Bureau of Land
Management and are poised to move forward on implementation. We expect that the
Ochoa Project will be one of the largest Sulphate of Potash projects in the
world. We also expect that it will satisfy the world's unmet need for Sulphate
of Potash. Recently, the premium in the price of Sulphate of Potash relative to
regular potash has increased in all world markets. The next big steps involve
financing. We anticipate that we will work with the world's largest resource
banks and industry players to finance this project."


Federal law requires the BLM to prepare an EIS for major federal actions that
may have a significant impact on the environment. During the EIS process, which
is now complete, the BLM evaluated the potential impacts that could result from
the Project, consulted with other federal, state, and local agencies, and
considered comments received from the public regarding the Project. Based on
more than two years of careful and comprehensive study of water resources,
cultural resources, natural resources, air quality and other resources, the BLM
issued their decision approving the construction and operation of the Project
and granting the requested rights of way for the Project facilities. 


The Preferred Alternative identified in the ROD incorporates the same proposed
mine area, mining methods, facilities, processing methods and water demands,
well field and water pipeline, and loadout facilities as proposed by the
Company, but includes a smaller tailings stockpile, additional monitoring and
reclamation requirements, formalized coordination with stakeholders, and a
dispute resolution process.


As described in the ROD, in addition to ongoing activities designed to mitigate
disruption to the environment, the following activities will be ongoing:




--  Preference Right Leases - Based on the required mitigation and
    reclamation measures included in the ROD, the BLM will complete their
    economic evaluation of the deposit the Company intends to mine before
    granting preference right leases. The BLM can only grant a preference
    right lease after the applicant demonstrates the existence of a valuable
    deposit. This evaluation is made by the BLM subsequent to the EIS
    process and considers costs associated with the mitigation and
    reclamation measures included in the ROD. The Company expects this
    process to conclude during the second quarter of this year.
--  Cultural Resources - Under the data recovery and treatment plan that has
    been approved by both the BLM and New Mexico State agencies, the Company
    must recover cultural resources data from sites in the tailings storage
    area in advance of ground-disturbing construction activities at those
    sites. Project construction shall not begin until the completion of the
    field work, analysis of the cultural material, and an acceptable final
    report is received and approved by the BLM, New Mexico State Historic
    Preservation Division, and the New Mexico Cultural Property Review
    Committee.
--  Required Monitoring - The Company will finalize the Water Resources and
    Subsidence Monitoring Plans before commencing with operations. Each plan
    was prepared during the EIS process and describes the methods,
    locations, and frequency of monitoring activities. Other monitoring
    plans for birds, dust, noxious weeds, and re-vegetation and reclamation
    will be implemented during both construction and operations. 



Now that the ROD has been issued by the BLM, the April 10, 2014 decision is
subject to a standard 30-day appeal period. The full ROD can be found at
www.nm.blm.gov/cfo/ochoaMine/docs/Ochoa_ROD_04-10-14.pdf or can be downloaded
from the Company's website.


Randy Foote, Chief Operating Officer of IC Potash Corp., added, "It has been a
pleasure to work with the BLM team in the Carlsbad office. We appreciate the
Bureau of Land Management's professionalism and their balanced approaches on all
issues. The Environmental Impact Statement process gave us the opportunity to
work closely with the regional community and to establish enduring relationships
that we believe will support our next phases of development. We believe that the
Ochoa Sulphate of Potash project will provide substantial employment and
economic benefits in southeast New Mexico and will also provide tax revenues to
the local, state, and federal governments."


About IC Potash Corp. 
ICP has demonstrated a low-cost method to produce Sulphate of Potash ("SOP")
from its 100%-owned Ochoa polyhalite deposit in southeast New Mexico. The
Company goal is to become a primary, long-term producer of SOP. The global
market for SOP is 5.5 million tons per year, with producers benefiting from
substantial price premiums over regular potash, known as Muriate of Potash
("MOP"). SOP is a non-chloride potash fertilizer widely used in the
horticultural industry and for high value crops, such as fruits, vegetables,
tobacco and potatoes. It is applicable for soils where there are substantial
agricultural activity, high soil salinity, and in arid regions. The Ochoa
Project has access to excellent local labor resources, low-cost electricity and
natural gas, water, rail lines, and the Port of Galveston, Texas. ICP's land
holdings consist of nearly 90,000 acres of federal subsurface potassium
prospecting permits and State of New Mexico potassium mining leases. For more
information, please visit www.icpotash.com. 


Forward-Looking Statements 
Certain information set forth in this news release may contain forward-looking
statements that involve substantial known and unknown risks and uncertainties
and other factors which may cause the actual results, performance or
achievements of ICP to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Forward-looking statements include statements that use
forward-looking terminology such as "may", "will", "expect", "anticipate",
"believe", "continue", "potential" or the negative thereof or other variations
thereof or comparable terminology. Such forward-looking statements include,
without limitation, reserve estimates, ICP's expected position as one of the
lowest cost producers of SOP in the world, the timing of receipt and publication
of ICP's environmental permits, the sufficiency of ICP's cash balances, the
timing of production, and other statements that are not historical facts. These
forward-looking statements are subject to numerous risks and uncertainties,
certain of which are beyond the control of ICP, including, but not limited to,
risks associated with mineral exploration and mining activities, the impact of
general economic conditions, industry conditions, dependence upon regulatory
approvals, the uncertainty of obtaining additional financing, and risks
associated with turning reserves into product. Readers are cautioned that the
assumptions used in the preparation of such information, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements. 



FOR FURTHER INFORMATION PLEASE CONTACT: 

FOR MORE INFORMATION, PLEASE CONTACT:
Mr. Mehdi Azodi
Investor Relations Director
Phone: 416-779-3268
Email: mazodi@icpotash.com

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