Vancouver — Encanto Potash Corp. said Oct. 15 that it has entered into a Memorandum of Understanding (MOU) with Metals and Minerals Trading Corp. (MMTC) of India to define the framework for a long-term potash supply agreement. Encanto is a TSX Venture Exchange listed and traded Canadian resource company engaged in the development of potash properties in Saskatchewan. Through a joint venture agreement with Muskowekwan Resources Ltd. on its flagship property, Encanto has a project land package which totals approximately 61,000 largely contiguous acres. Encanto says a 2013 pre-feasibility study confirms proven and probable KCI reserves totaling 162 million mt grading 28 percent, which supports primary and secondary mining for over 50 years at an assumed annual rate extraction rate of 2.8 million mt. Encanto also has an interest in another potash property in Saskatchewan – a 20 percent interest in the 55,000-acre Ochapowace/Chacachas property.
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