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GSFC gets environmental clearance for Canadian project

12 Feb 2013 Evaluate

State-owned Gujarat State Fertilizers and Chemicals (GSFC) has received Environmental Impact Statement (EIS) approval from the Saskatchewan Ministry of Environment (MOE) for its Canadian project for potash mining with Canada based Karnalyte Resources Inc. (KRN).

EIS approval is essential to the advancement of the Wynyard Carnallite Project, and was a condition of the $45 million strategic investment by GSFC.

Earlier in January 2013, the company had acquired 19.98% stake in the Canadian potash mining company KRN for Rs 250 crore.

KRN is engaged in the business of exploration and development of high quality agricultural and industrial potash and magnesium products.  Karnalyte intends to develop and extract a carnallite-sylvite mineral deposit through a known solution mining process at competitive costs and with minimal environmental impact.

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