Feds back effort to extract mineral buried deep under Northern Michigan
The federal government is supporting a controversial Northern Michigan potash and salt mine that’s been in the works for over a decade.
Michigan Potash secures conditional commitment for a loan guarantee from the U.S. Department of Energy to enhance food security through major fertilizer project
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.
LPO Announces Conditional Commitment to Michigan Potash to Produce Fertilizer for U.S. Farmers
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.
Senate bill adds phosphate and potash to Critical Minerals list
The Fertilizer Institute has praised the US Senate for introducing bipartisan legislation to include phosphate and potash on the final list of critical minerals of the Department of the Interior. Introduced by Senators Sherrod Brown (D-OH), Thom Tills (R-NC), Tammy Baldwin (D-WI), Roger Marshall (R-KS), Pete Ricketts (R-NE), and Rick Scott (R-FL), the legislation will recognise the importance of ensuring a strong and sustainable domestic fertilizer supply for American farmers.
New potash mining facility: Creating an economic impact on Evart and surrounding region
Evart Township is one step closer to being home to a brand-new potash (potassium chloride) and salt production plant and processing facility. The Michigan Strategic Fund approved a $225 million bond for the Michigan Potash Company LLC in September 2022. While the idea has been in talks for over 10 years, the conversation on the plans of the Osceola and Mecosta counties facility continues.