Scrap Monster
Vulcan

Karnalyte Resources Inc.
3150B Faithfull Avenue, Saskatoon, Saskatchewan, Canada

Memberships : NA
Industry : Potash
Basic Member
Since Mar, 2020
"We encourage all members to participate in trading activities ONLY with verified members" You can get verified here
About Company

Karnalyte Resources Inc. was founded in 2007 and had its Initial Public Offering on December 14, 2010 directly to the Toronto Stock Exchange under the symbol TSX:KRN. Karnalyte intends to construct a 2.125 million tonnes per year potash solution mining facility using a three phase modular approach. The first phase is 625,000 tonnes per year followed by two 750,000 tonne expansions. Karnalyte will produce a premium granular potash product with minimal environmental impact. Karnalyte has obtained a bankable feasibility study, EIS approval, magnesium co-product preliminary feasibility study, and recently updated its 43-101 compliant technical report.

Vision & Strategy

Karnalyte intends to maximize shareholder and stakeholder value with the financing and construction of the Wynyard Project. Karnalyte Resources’ vision is to become a low-cost producer of high quality, low sodium granular potash. To move forward Karnalyte has partnered with GSFC, a major Indian agribusiness company.

Strategic Partnership

In 2013, Gujarat State Fertilizers and Chemicals, one of India’s largest fertilizer and industrial chemicals manufacturing companies, made a strategic investment in Karnalyte of approximately $44.7 million, resulting in GSFC holding a 19.98% ownership stake in Karnalyte (the “Private Placement”).

In connection with the Private Placement, Karnalyte and GSFC executed an off-take agreement (the “Offtake Agreement) for GSFC’s purchase of approximately 350,000 tpy from Phase 1. The offtake commences with commercial production from Phase 1 with the result that Karnalyte has secured sales for approximately 56% of its potash production from Phase 1 for approximately 20 years.

The Agreement also provides GSFC with the option to increase its off-take to 600,000 tpy when Phase 2 goes into commercial production, and potentially up to 1,000,000 tpy when Phase 3 is completed.

The strategic partnership between Karnalyte and GSFC provides Karnalyte with a significant competitive advantage in the marketplace, and is anticipated to provide GSFC with a secure supply of potash for many years to come.

Company NameKarnalyte Resources Inc.
Business CategoryPotash
Address3150B Faithfull Avenue
Saskatoon
Saskatchewan
Canada
PresidentNA
Year Established2007
EmployeesNA
MembershipsNA
Hours of OperationNA
Company Services
  • Completed Feasibility Study
  • Conceptual Layouts For Underground And Surface Facilities Have Been Completed
  • Environmental Impact Statement Approved
  • Plant Site Surface Has Been Stripped And Ready For Construction
Phone NumberLocked contentSubscribe to view
Fax NumberLocked content
EmailLocked content
WebsiteLocked content
Not available
Not available
Not available
Company Review
Start your review of Karnalyte Resources Inc.
Potash Companies
Companies in Canada
  • Is this your company? Claim this listing
  • Wrong information? Submit corrections
  • Add to Favorites
  • Report this profile
Contact Company
By continuing you agree to the Terms & Conditions and Privacy Policy of this website
location map