Itafos Inc. on April 24 announced the Record of Decision for the Husky 1/North Dry Ridge (H1/NDR) mine development project, which will allow the company to work to continue to serve the North American fertilizer market through 2037. The company plans to break ground on the project this summer.
Itafos expects mineral resources from the mine in 2026, which will provide an uninterrupted supply as the Rasmussen Valley Mine reaches the end of its useful life. The company said the project will be internally funded.
“The Itafos team has taken several steps to unlock stakeholder value, including reducing leverage, extending debt maturities, and establishing an industry leading safety culture,” said David Delaney, Itafos CEO. “The Record of Decision is another important step toward achieving our strategic goal of extending Conda’s mine life with H1/NDR. This supports over five hundred jobs in southeast Idaho, where we mine and manufacture phosphate ore and fertilizers in support of North American agriculture.
“Itafos, and the Conda community, would like to thank the Bureau of Land Management, the US Forest Service, and all the other regulatory agencies for their diligent and collaborative work on this project,” he added. “The permit will allow us to work to continue to serve the North American fertilizer market through 2037, with potential to further extend the resource life through leases and third-party arrangements. Itafos is excited about this next chapter, and will begin breaking ground this summer.”