indians chasing potash

Being 100% import dependent is obviously a big concern to food security planners in New Delhi ... Of course a sulphate of potash development would be far cheaper than the $0.5-1 billion US required to establish a muriate of potash mine.

---------------------------------------------------
Indian firm plans $451 mln potash mine in Ethiopia
Tue 11 Dec 2007, 8:41 GMT
[-] Text [+]

ADDIS ABABA (Reuters) - Ethiopia said it had signed an agreement with an Indian mining firm on Tuesday to establish a $451 million factory to mine potash, a key ingredient in fertiliser, in the arid Afar desert.

Under the deal, Sainik Mining Limited of India, a privately owned firm will mine the potash in Musely and Crescent, in the remote region bordering Djibouti and Eritrea in eastern Ethiopia, for 20 years.

"Apart from helping in Ethiopia's development effort, the establishment of the company would also help to enhance the long standing relations between our two countries," said Alemayehu Tegenu, Ethiopia's minister for mining and energy.

Sainik director Nitin Wagh, said the company had plans to produce over 20 million tonnes of potash during the 20 years.

The Indian factory will be established on 10 hectares of land. Studies by the mines ministry show that Musely and Crescent have the potential to produce up to 140 million tonnes of potash.