| A large truck hauls phosphate ore from an Agrium open pit mine on the Caribou/Targhee National Forest. (photo/Mark Mendiola |
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MARK MENDIOLA Reports |
An earlier version of this column appeared in Green Markets
The U.S. Bureau of Land Management has approved the transfer of operating rights for the Dry Ridge Phosphate Project in southeastern Idaho from Solvoy USA Inc. to Fertoz USA LLC, a wholly-owned subsidiary of Fertoz Ltd., an Australian company with phosphate operations in Australia and Canada.
Fertoz joins Canadian companies Agrium, based at Calgary, Alberta, and Stonegate Agricom, based at Toronto, Ontario, as foreign companies hoping to realize hefty profits by developing phosphate mines in southeastern Idaho, but at great up-front capital investments.
Agrium has operated Conda processing plant for decades as Nu-West Industries near Soda Springs and runs the North Rasmussen Ridge Mine. Stonegate Agricom is developing the Paris Hills underground phosphate mine near Bloomington and Paris.
In December, Fertoz acquired an option to explore and acquire up to 100 percent of the Dry Ridge lease on the phosphate-rich Caribou/Targhee National Forest, expanding into the United States as it embarks on an ambitious expansion.
It has engaged World Industrial Minerals as a consultant to provide additional geological services to develop an exploration program in alignment with BLM requirements. Cascade Earth Sciences also has been contracted to start environmental permitting as required by the BLM. CES has teamed with Sound Ecological Endeavours and Sundance Consulting to expedite the biological and archaeological processes, respectively.
The approval process is expected to take 12 to 15 months. Fertoz Managing Director Les Szonyi said the BLM’s approval of transferring Dry Ridge operating rights will allow Fertoz to accelerate the permit and exploration approval process and begin drilling at the end of 2015 in Idaho.
Exploration in the United States requires significant third party input and reports before drilling can be approved, he noted, adding he expects Fertoz will submit in the next few months an exploration application, which outlines the proposed exploration plan. An environmental assessment of the project’s impact also must be submitted. (more…)
