Minsk — GMC Global Energy Plc plans to invest some $100 million in a new potash mine and processing plant in Belarus this year, according to reports from the local media last week. Total investment is expected to top $1.5 billion for a 1.1 million mt/y mine to be located in the Nezhinsky, Smolovsky, and Lyubansky sections of the Starobinskoye potash salt deposits. GMC has created a subsidiary, Slavkali, to develop the mine, with hopes that mine construction can begin in second-half 2013. GMC is owned by Russian investor Mikhail Gutseriyev. The mine would be second-largest potash producer in Belarus after OAO Belaruskali. Initial reports about the mine were released last October on the government’s website.
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