TORONTO--(Marketwired - Jul 10, 2013) - IC Potash Corp. ("ICP" or the "Company") (TSX: ICP) (OTCQX: ICPTF) is pleased to announce the appointment of Richard Beauchamp, P.E. as Chief Mine Engineer of the Company's Ochoa Sulphate of Potash (SOP) Project in southeastern New Mexico.
Reporting to Terre Lane, ICP's Senior Vice President, Engineering and Project Development, Beauchamp will be responsible for the coordination and delivery of all engineering services during mine development and through to the operating phase of the mine. He brings to ICP more than 14 years of hands-on experience ranging from mine planning, including permitting and capital budgeting, through to mine and plant design and construction.
Sidney Himmel, President and CEO of ICP, stated, "We are very pleased to welcome Dick to the ICP team and expect that he will prove instrumental in helping to advance our Ochoa Project's underground mining operations from development through full production. He is joining ICP at a very exciting time in our Company's history as we prepare to complete our Definitive Feasibility Study and move to commence our detailed engineering work on the mine and processing facility."
Prior to joining ICP, Beauchamp served in engineering posts at Patriot Coal Corp., a producer and marketer of coal, with 11 active mining complexes in Appalachia and the Illinois Basin. During his near seven year tenure with Patriot, Beauchamp was Senior Environmental Engineer of the Company's Hobet Mining operations in West Virginia; Manager of Engineering of its Kanawha Eagle mines and Midland Trail Energy Blue Creek Complex; Senior Planning Engineer at Patriot's Coyote Coal Company; and Senior Mine Engineer of the Company's Speed Mining operations. In these roles, Beauchamp led or was involved with the construction of several green- and brownfield mine sites, with the largest being the planning, construction and commissioning of the Blue Creek Complex, which consists of dual underground coal mines, a processing plant, multiple tailings disposal sites and an OTR truck loadout capable of producing in excess 4,000,00 raw tons per year.
After graduating from Virginia Polytechnic Institute and State University with a Bachelors of Science degree in Mining and Mineral Engineering, Beauchamp began his career working as a mine planner and mine engineer at IMC Phosphates, before moving on to Anker Energy as Mining Engineer - Deep Mines, and later Arch Coal as Mining Engineer - Operations.
About IC Potash Corp.ICP intends to become a primary producer of Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM") by mining its 100%-owned Ochoa property in southeast New Mexico, a highly advanced polyhalite mineral deposit containing proven and probable reserves of more than 340 million tons of ore within the proposed mine plan. SOP is a non-chloride based potash fertilizer that sells at a substantial premium over the price of regular potash known as Muriate of Potash ("MOP"). MOP contains chloride and is therefore not the optimal potash for numerous crops and in situations where there is high soil salinity. ICP is focused on becoming the lowest cost producer of SOP in the world, a market that is towards six million tonnes per year. SOP is a significant fertilizer in horticultural industries, particularly fruits, vegetables, tobacco and potatoes. SOP is applicable for soils where there are substantial agricultural activity, high soil salinity, and in arid regions. SOPM is a highly desirable potash product for soils with magnesium deficiency, and has a total global market size of over one million tonnes. ICP's Ochoa property consists of nearly 90,000 acres of federal subsurface potassium prospecting permits and State of New Mexico Potassium mining leases. For more information, please visit Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of ICP to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, reserve estimates, statements regarding the expected results of the FS and completion of the FS on schedule and on budget, ICP's expected position as one of the lowest cost producers of SOP in the world, the timing of receipt and publication of ICP's environmental permits, the sufficiency of ICP's cash balances, the timing of production, and other statements that are not historical facts. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the uncertainty of obtaining additional financing, and risks associated with turning reserves into product. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
