Keras Resources acquired the Diamond Creek project

The British company Keras Resources has gained control of the Diamond Creek phosphorite project (Utah, USA). The project is promising since the previous exploration revealed an extensive zone of phosphorites with a thickness of 3 m and an average content of phosphorus pentoxide of 16%.

The geologists report that the deposit may provide 5.06 million tons of phosphorites with open-pit mining and 7.85 million tons with underground mining. Cost-effective development of phosphorite deposits can be carried out for 60 years. Keras Resources plans to conduct drilling to refine and reassess the reserves of the Diamond Creek project.

“We are glad to secure Diamond Creek and its well-located Spanish Fork dressing plant,” said Russell Lamming, CEO of Keras Resources.