Gensource Potash will acquire Innovare Technologies

The Canadian company Gensource Potash will acquire Innovare Technologies. The deal, worth approximately $11.5 million, is expected to close by the end of 2Q2022.

Innovare Technologies is developing solutions for the selective extraction of potassium salts. Gensource Potash believes that Innovare Technologies’ developments will help to reduce the costs of the implementation of the Tugaske potash project (Saskatchewan).

The mine created as part of the Tugaske project will produce up to 250 thousand tons of potassium chloride. Its feature is increased environmental safety: it will use 75% less water than similar plants for underground leaching of potassium salts.

The entire volume of potassium chloride, which will be produced by the future mine, will be shipped to Helm (an appropriate contract was previously signed with it).