Created: 03/30/2014 11:51 AM
By: Mike Anderson, KOB Eyewitness News 4
HOBBS, N.M. (AP) - Officials say a planned $1 billion potash mine in southeastern New Mexico could break ground this year.
The Hobbs News-Sun reports that the final licensing hurdle for the proposed polyhalite mine west of Jal, N.M., could be cleared in a few weeks.
News of the conclusion of the final environmental impact statement for the project came earlier this month and a record of decision is expected within 30-days from the U.S Environmental Protection Agency.
Intercontinental Potash Corp. recently filed a final feasibility study on the project that should give the company a foothold in securing the funding necessary to build.
The site has an estimated 414 million tons of polyhalite reserves beneath the 40 sections of land the company has leased from the U.S. Bureau of Land Management.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)