By The Financial District
Thailand Reopens Huge Potash Mine Amid Protests
Facing disruptions to the global fertilizer supply chain due to the Ukraine war, Thailand, a key producer of food and agricultural products, has decided to restart a potash mining project that has been dormant for 20 years, Apornrath Phoonphongphiphat reported for Nikkei Asia.
Photo Insert: The $1.8 billion project aims to ease shortages of chemical fertilizer and reduce prices at home.
The $1.8 billion project aims to ease shortages of chemical fertilizer and reduce prices at home.
"The cabinet has approved the potash mining project and assigned the Ministry of Finance to pay for new ordinary shares in order to hold a 20% stake in the project," Ratchada Thanadirek, the government's deputy chief spokeswoman, told reporters earlier this month.
Thailand has already granted potash mining concessions to Thai Kali Co Ltd in Nakhon Ratchasima and Asean Potash Chaiyaphum Plc in Chaiyaphum.
In June 2022, Thailand’s The Nation reported that the Cabinet had approved the proposal to allow potash mining in Udon Thani, which is expected to draw an investment of 36 billion baht.
The operator of the 3,600-hectare concession near the border with Laos, the
Asia Pacific Potash Corp. (APPC) of Canada, had been lobbying for 20 years to quarry for potash and dig 100 meters to extract potash at a rate of 2 million tons annually. Thai environmentalists opposed the operation submitted a petition signed by 2,568 residents denouncing the project.
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