Indian agribusiness firm to fund first phase of Karnalyte’s Saskatchewan potash project

March 14, 2016

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India-listed agribusiness firm Gujarat State Fertilisers (GSFC) and Chemicals has agreed in principle to finance construction of the first phase of project developer Karnalyte Resources’ 625 000 t/y Wynyard potash deposit, in Saskatchewan.
TSX-listed Karnalyte had also agreed to spin-out secondary mineral assets and unexplored lands into one or more separate entities, in order to achieve a fully financed structure to build its flagship potash mine.

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