Rio Tinto to push ahead with Saskatchewan potash project

|About: Rio Tinto plc (RIO)|By:, SA News Editor

Rio Tinto (RIO) and Russian fertilizer producer Acron are moving ahead with development of the Albany potash prospect in Saskatchewan, Acron says.

In its first disclosure of the size of the discovery, Acron says the project area contains 1.4B metric tons of inferred resources within the mining caverns at an average grade of 31% potassium chloride, with 329M metric tons recoverable.

Rio’s rival BHP has invested in the larger Jansen potash project in Canada, but has pushed back production until at least 2020, looking for the right time to enter the currently oversupplied market.