Vancouver — Encanto Potash Corp. said Jan. 14 that it has been advised that India’s Rashtriya Chemicals and Fertilizers Ltd. (RCF) announced on the Indian government’s website a tender process aimed at selecting an advisor to review and advise on an off-take agreement proposal with Encanto for 2 million mt of potash purchases by a consortium led by RCF. The announced tender process is believed to be part of the Indian government’s regulatory requirements to have an independent third-party advisor review the proposed off-take agreement. Although Encanto has had ongoing negotiations with RCF and members of the consortium, no agreement has been reached or executed, and there is no assurance an agreement will be reached or executed. Encanto’s flagship investment in Saskatchewan is a joint venture with the Muskowekwan First Nations for a combined acreage of 58,300 acres. Encanto has 100 percent interest in two additional potash properties in Saskatchewan: the 55,000 acre Ochapowace/Chacachas property, and the 91,550 acre Spar property.
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