Vancouver-Ringbolt Ventures Ltd. said March 10 that it has signed a letter of agreement with an American private company to acquire potash leases in the Paradox Basin in Utah. Ringbolt says the United States Geological Survey estimates that the Paradox Basin contains 2 billion tons of potash. The company is pleased with the geological location of the leases on an ancient saltwater inlet and with the nature of the potash deposits. The Vancouver, B.C.-based Ringbolt describes itself as a junior resource company whose primary focus is to acquire and develop assets in the agricultural sector. It says it recognizes the need for ag products that by all accounts will stay fundamentally robust for the foreseeable future, due to the forever increasing population of the world and the strong demand from the biofuel industry. It noted that the total U.S. potash production in 2007 only accounted for 12 percent of U.S. consumption, and the balance (88 percent) had to be imported.
Transparency Across the Fertilizer Value-Chain