Province tabs $5M for potash mine growth
Manitoba’s only potash mine aims to more than double production after netting a $5 million loan from the province. “When we have money, we drill more wells,” said Daymon Guillas, […]
Manitoba's sole potash mine plans to more than double production after securing a $5 million provincial loan. The Potash and Agri Development Corporation of Manitoba (PADCOM) aims to mine at least 22,000 tons of potash this winter, up from 10,000 tons last winter. PADCOM president Daymon Guillas said the funding will enable the company to drill more wells and expand production.
The government announced the loan on Monday at a conference for industry professionals. PADCOM is working towards obtaining additional private investment to fund a third well pairing. If successful, the company could mine between 22,000 and 50,000 tons of potash annually in the next three years. Mining Minister Jamie Moses highlighted PADCOM's planned shipments through the Port of Churchill, saying the province wants to accelerate the company's growth.
PADCOM has already shipped 20 tons of potash through Churchill this year. The company is aiming to produce one million tons annually in the future and has spent $30 million on the potash mine to date.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
