September 17, 2014
SAINT JOHN – Premier David Alward today congratulated New Brunswick-based Atlantic Potash Corp. (APC) on the news of the company’s most recent exploration results. The company announced earlier today that an examination of initial core results has been very positive, and they will be continuing with their potash exploration in Millstream, just west of Sussex.
“I’d like to acknowledge Atlantic Potash for all of their hard work during this phase of the project, and congratulate them on such positive results,” said Premier Alward. “This is great news for the people of Sussex and the surrounding area, and great news for New Brunswick.”
The purpose of the exploration phase is to determine whether there is a sufficient amount of potash to establish a viable mining operation in the area. An examination of the first core samples has revealed a significant deposit of potash, and the company will be continuing with its exploration program this spring.
“Projects like this are a great example of why our team is saying Yes to the safe and responsible development of our natural resources,” said Premier Alward. “This project is already having an economic impact within our province and it stands to have an even greater impact moving forward.”
It is estimated that approximately $8 million will be spent by APC to explore the Millstream potash deposit and it will involve an investment of about $3.6 to $3.8 billion to bring the mine to operations.Atlantic Potash Corp. has also proposed to develop a specialty potash-based fertilizer production facility in the McAllister Industrial Park in Saint John, New Brunswick.
“It’s exciting to know that value-added projects that contribute so much to a stronger economy are underway in New Brunswick,” said Premier Alward. “Our team understands the importance of value-added industries to our province and that’s why we’re working so hard to ensure we are able to offer businesses competitive advantages, like a domestic source of natural gas which is essential to operations like this one.”
“Shale gas is a major economic driver on its own, but development of the industry in New Brunswick has the added benefit of helping other industries here as well. Having a local source of natural gas will help retain existing industries in New Brunswick, and help attract new investment as well. We understand that shale gas is a vital part of ensuring New Brunswick is competitive and a place where business thrives. That’s why our team is so committed to making it a reality.”