By the authority vested in me as President by the Constitution and the laws of the United States of America, including section 301 of title 3, United States Code, it is hereby ordered: Section 1. Purpose. The United States possesses vast mineral resources that can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations.
EVART, Mich.–(BUSINESS WIRE)–The Michigan Potash & Salt Co. (Michigan Salt) today announced the launch of its new salt business, which will produce 1 million tons of food-quality salt, strategically located within a high-demand area the United States.
The federal government is supporting a controversial Northern Michigan potash and salt mine that’s been in the works for over a decade.
EVART, Mich. — A technologically advanced and energy efficient potash and salt production facility more than a decade in the making got a critical boost through a conditional commitment for a loan guarantee of up to $1.26 billion from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO). The facility will create good paying jobs and improve U.S. food security by reducing America’s near-total dependence on foreign countries for a critical mineral.
The U.S. Department of Energy’s Loan Programs Office (LPO) announced today a conditional commitment for a loan guarantee of up to $1.26 billion ($1.12 billion in principal and $141 million in capitalized interest) to Michigan Potash Company, LLC (Michigan Potash). The loan guarantee will help finance the construction of a potash solution mine and processing plant in Osceola County, Michigan, to produce approximately 800,000 tons per year of fertilizer-grade muriate of potash and about 1 million tons per year of salt.