Ochoa Project Overview

Facts at a Glance

  • Located in Lea County, New Mexico, USA: an excellent mining jurisdiction with ready access to infrastructure, ports, utilities, and skilled labor
  • Well-positioned to become the only polyhalite producer in North America: first production expected in 2021, ramping up to 2 million tons per year in 2023
  • Ideally situated: ready access to U.S. clients or for export to Latin America and Asia
  • 38-year mine life: 71 million tons Proven & Probable Reserves (88% polyhalite grade)
  • Preliminary designs of mine and processing plant: complete to Class 3 level accuracy and relatively low capital intensity (anticipated development capital budget of $328 million)
  • Project NPV of $1,034 million, unlevered IRR of 26%, and payback period of 2.8 years: based on 8% cost of capital and $193 per ton life of mine average product price
  • Numerous off-take agreements underway: letters of intent in place or in negotiation for a majority of our planned annual production