Migao To Build Specialty Compound Fertilizer Facility in Guizhou Province
Potash producer Migao (TSX: MGO) said Wednesday it will build a 100,000 tonne per year specialty compound fertilizer facility in Zunyi, Guizhou Province, China.
"One of the largest tobacco companies in China has expressed interest in purchasing large quantities of our specialty compound fertilizer," said Liu Guocai, Migao's CEO.
The Zunyi facility will be built in two phases, with the first 50,000 tonne per year unit to be completed by the end of 2011. Migao has budgeted CAD$15 million for the project.
When built, the facility would be producing specialty compound nitrogen, phosphate, potassium, and other mineral and nutrient blends.
Migao also has a 0.1 million tonne specialty compound fertilizer facility in Sichuan.
Besides producing specialty compound fertilizers, Migao, which operates mostly in China, can currently produce about 0.32 million tonnes of potassium nitrate and potassium sulphate combined.
The company's will also have a new 40,000 tonne facility near Shanghai completed in early 2011 as well as a 40,000 tonne expansion at its Changchun Migao later this year. Both capacity expansions are for potassium sulphate.
The company's shares have increased 1.8% to trade at $7.89 as of 1:21 pm EST.
Related news
- Mariana Resources kicks off drilling programme at Las Calandrias gold-silver project
- Orogen Gold begins Phase 1 drilling programme at Deli Jovan
- Magnolia Petroleum on track to hit 100 wells target by end-2012
- Mwana Africa sells 15pct stake in Freda Rebecca gold mine for $405k - UPDATE
- Genel Energy on track as production increases
- Rambler Metals & Mining raises further C$4.13 million from Tinma International
- Wasabi Energy completes purchase of minority stake to own Global Geothermal
