Parkway Minerals extends its project portfolio
The Australian company Parkway Minerals announced the acquisition of Consolidated Potash, which currently owns two fertilizer projects – the Karinga Lakes Potash Project (Australia) and the New Mexico Lithium Potash Project (USA).
The first project includes the production of potassium sulfate, the second – potassium chloride and lithium salts.
For Parkway Minerals, the acquisition of Consolidated Potash means extending its project and technology portfolio. Last year, Parkway Minerals offered its securities through a private placement, earning $0.5 million for them. The funds were transferred to Davenport Resources, which is controlled by Parkway Minerals and owns three licenses for exploration and production of potash salts in Germany.
Davenport Resources in its turn allocated the funds for the implementation of the Ebeleben project (South Harz, Germany): its potash reserves are 356 million tons.