OREANDA-NEWS. Uralkali (LSE: URKA; the Company), one of the world's largest potash producers, announces that it has won the auction to develop the Romanovsky block of the Verkhnekamskoye deposit of potassium and magnesium salts.

The Company plans to finalise the licence agreement as soon as practicable. The cost of licence will amount to RUB 325,829,900 (approx. USD 9.47 million1). The estimated reserves of the new block are 385 million tonnes of sylvinite ore2.

Dmitry Osipov, Uralkali CEO, commented:

“We consider this acquisition as a great opportunity to expand our mineral ore base through a prospective field situated close to our existing production facilities”.

Uralkali is one of the world's largest potash producers and exporters. The Company's assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca.11,300 people (in the main production unit). Uralkali's shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.