OREANDA-NEWS. Uralkali (LSE: URKA; the Company), one of the world’s largest potash producers, announces that it has obtained a licence to conduct extraction of magnesium salts (carnallite rock) in the Western part of the Novo-Solikamsk block of the Verkhnekamskoye deposit of potassium and magnesium salts.

The total value of the licence acquired in a contest is RUB 10,500,000 (approximately US\$186,000). The new block has estimated commercial reserves of 55.652 million tonnes of carnallite rock. The expiration date of the licence is 6 April 2035.

The new licence has increased the Company’s total carnallite rock reserves to 1,540.013 million tonnes.

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.