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# Gensource Potash attracted investments for its Tugaske project

Publication Date: 26.10.2021, 18:00

The loan will be provided by two companies.

The Canadian company Gensource Potash will receive two loans from KfW IPEX-Bank and Societe Generale of $221.2 million in total, which the company needs to implement the Tugaske potash project (Saskatchewan).

Gensource Potash is implementing a business model for the construction of small enterprises producing potassium salts and processing them into potassium fertilizers.

The Vanguard One mine, which is being created by Gensource Potash, will extract potassium salts by in situ leaching from the Elk Point Basin, which stretches across a part of Canada and the United States. The plans for underground leaching are quite feasible since the geological conditions allow the development of deposits in such a way.

The mine under the Tugaske project will be created similarly.

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