Fortis Mining secures significant Kazakhstan potash deposits.

By bne IntelliNews March 28, 2011
Fortis Mining, minerals exploration company, announced it has finalized negotiations to fully secure the rights to purchase two world class salt deposits in west-Kazakhstan. Fortis signed variety of share sale agreements to acquire 75% shareholding in Hong Kong based Jiian Resources Investment who owns two Kazakhstan potash tenements. The transaction for a total cost of USD 260mn would be payable in three installments. The first USD 6mn has already been paid. The subject of the deal, Chelkar and Zhiliyanskoe Salt Deposits, have an exploration target about 6.5-6.6bn tons of potassium deposits what places them amongst the largest potash salt deposits in the world.

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