Mining Co. Signs $2B Potash Deal With Sichuan Chemical

Law360, New York (October 22, 2012, 6:00 PM EDT) -- Natural resources mining company Prospect Global Resources Inc. and Chinese conglomerate Sichuan Chemical Industry Holding (Group) Co. Ltd. on Monday announced a $2 billion, 10-year deal in which Sichuan will buy at least 500,000 metric tons of Prospect Global’s potash annually.

The deal essentially means Sichuan has agreed to buy 25 percent of the total projected output of potash from Prospect’s American West Potash field in Holbrook, Ariz., once the facility is fully operational in 2016, the companies said in a joint statement.

The companies described...
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