Manitoba unveils $15 M potash exploration plan

Winnipeg-Manitoba Science, Technology, Energy and Mines Minister Jim Rondeau announced Feb. 23 that global resources company BHP Billiton will invest $15 million to explore the potential of a large potash deposit in the Russell-Binscarth area. “Manitoba’s untapped potash deposits have the potential to generate hundreds of jobs and attract millions of dollars in direct investment,” Rondeau said. “BHP Billiton is the largest diversified resources company in the world with the capability to properly assess the Russell-Binscarth deposit at no additional cost to Manitobans.” The deposit is owned by the province of Manitoba (49 percent) and Potamine Corp. of Canada (51 percent) as joint partners in the Manitoba Potash Corp. (MPC). MPC was created in 1986 to hold the assets of the Russell-Binscarth potash project. BHP Billiton has recently bought out Potamine’s share in the MPC.