Junior sulfate of potash (SOP) producer SOPerior Fertilizer reported that it is seeking to extend its 10-year Other Business Arrangement (OBA) with the School and Institutional Trust Land Administration (SITLA) for the Blawn Mountain mineral leases that expire on April 1, 2024.
The Toronto company said its extension submission will be supported by the planning and numerous studies undertaken, including environmental and plant location studies, and financial expenditures incurred by the company and its proposed joint venture counterparty in preparation for the start of the Front-End Engineering Design (FEED) for the first phase commercial project planned to commence in 2024.
The company noted that the SITLA Board of Directors has meetings scheduled for mid-April and May 2024. It said depending on the duration of the SITLA review process, it is expected that the OBA will be tabled for approval at one of those two meetings.