Parkway Minerals expands its project portfolio
The Australian company Parkway Minerals is in the process of absorbing Consolidated Potash, a company handling two projects – Karinga Lake Potash (Australia) and New Mexico Lithium (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 the expansion of its portfolio of projects. Last year it conducted a private placement of the shares, earning $0,5 million. These funds were transferred to its daughter company Davenport Resources, which owns three licenses for exploration and production of potash salts in Germany.
Davenport Resources allocated funds for the implementation of the Ebeleben project (South Harz, Thuringia): the reserves of potash salts there amounts to 356 million tons.