This is through its wholly owned German subsidiary, East Exploration GmbH.
South Harz
The South Harz Potash District is in the northern part of the German Federal State of Thuringia. It has a history of producing Muriate of Potash (MOP) from both Sylvinite and Carnallitite ores. Historically potash ores have been mined by both conventional underground and solution mining operations. Prior to the re-unification of Germany, the district (in the former German Democratic Republic) produced approximately 3.5 million tonnes of K 2 O annually (approx. 4.4 million tonnes of MOP).
Licences
The potash project comprises two exploration licences and three mining licences covering a total area of approximately 659km 2 . A Küllstedt licence and Gräfentonna exploration licences were granted on 12 January 2015. Under the German Mining Law the exploration licences are granted for a term of five years with an option to renew for a further three years. The mining licences purchased from German government agency BVVG are perpetual and have historic resources. These resources are from when they were part of the former German Democratic Republic potash production and exploration assets.
