OREANDA-NEWS. On 4 February 2008 Uralkali announced its decision to take part in the auctions for licences for newly available sections of the Verkhnekamskoye Potash Deposit (Perm Territory). The auctions, organized and held by Federal Agency for Subsoil Use, are scheduled to take place on March 11, 2008. Uralkali understands that rights to the newly available sections of the Deposit are to be sold off in three lots: the first includes the Talitski section; the second includes the Polovodovski section, a part of the Novo-Solikamski section and a part of the Ostalnaya area; and the third includes the Palasherski section and the Balakhontsevski section.

Uralkali, as a pure-play potash producer, is interested in acquiring rights to all of these newly available sections. Uralkali believes that the acquisition of the rights to the newly available sections would help support its strategy to increase its potash production capacity, in light of the currently strong global demand trend for potash.