Gensource Potash Corporation announced they cleared the need for an environmental assessment on their Vanguard One project.
The project which is located near Eyebrow, SK is a much smaller mine, slated to create roughly 50 jobs for the area.
President and CEO for Gensource Potash Corp Mike Ferguson said the next step is securing funding for the mine.
“That financing package is main area of effort right now. We’re hoping to have that completed in the next couple of months, so we can begin drilling in our underground caverns over the winter.”
They’re looking to secure the $280 million needed, so that production can start in 2020.
He said it’s going to be challenging considering the current condition of the economy.
“The mining industry is tough for sure. Particularly the potash industry has always been a tough place to try and raise finances.”