Fertiliser maker Intrepid Potash awarded $139m US funding for planned sulphate of potash project
Intrepid Potash has been selected for US Department of Agriculture funding of $139-million for construction of its planned sulphate of potash (SoP) project, including a manufacturing facility in New Mexico.
The funding is facilitated through the department’s Fertilizer Investment and Expansion for Long-Term Domestic Supply programme.
If constructed, the SoP plant will introduce a new product to Intrepid’s portfolio, further diversifying its product offerings and expanding its presence in specialty fertiliser markets.
Based on current project plans, the facility will have a yearly production capacity of about 220 000 t.
While the project is in advanced stages of planning, engineering and evaluation, the estimates and plans remain subject to completion of final engineering, completion of the award process, fulfillment of grant conditions and a final investment decision (FID), which is targeted for late 2027.
Intrepid CEO Kevin Crutchfield welcomes the US government’s confidence in the SoP project, saying this possible future project can be a pivotal one for Intrepid since it allows for turning American minerals into a fertiliser product that American farmers need.
“As we continue to evaluate the project ahead of a FID, we remain committed to our broader capital allocation priorities, with a focus on disciplined capital deployment and generating attractive long-term return on invested capital. We look forward to sharing additional details as the project advances,” he concludes.
Intrepid is currently the US’s only producer of muriate of potash. The company also produces a specialty fertiliser called Trio which delivers a low-chloride source of potassium, magnesium and sulphate in a single particle. Intrepid operates major solar evaporation and underground mining facilities in New Mexico and Utah.