OREANDA-NEWS. Uralkali (LSE: URKA), one of the world’s largest potash producers, today announced that the Russian Federal Agency for Subsoil Use (Rosnedra) has extended the term of exploration and mining for the licences at Uralkali’s working mines.

Uralkali holds licences for seven blocks of the Verkhnekamskoye field. The licences for the Ust-Yayvinsky and Polovodovsky blocks are valid until 2024 and 2028, respectively. Five other licences, which were to expire on 1 April 2013, have been extended:

licence for the northern part of Solikamsky block (Solikamsk-1) – until 1 January 2018

licence for the southern part of Solikamsky block (Solikamsk-2) – until 1 January 2021

licence for the Novo-Solikamsky block (Solikamsk-3) – until 1 January 2018

licence for the Durymansky block (Berezniki-2) – until 1 January 2021

licence for the Bygelsko-Troitsky block (Berezniki-4) – until 1 January 2018

The reserves at Uralkali’s mines will be depleted much later than the licences expire. The Company, therefore, intends in future also to extend its licences timely and in line with the legislation.