Industry Watch: Al talks potash with Pat Varas, CEO of Western Potash Corp.
Nationally syndicated radio show personality Al Korelin from the Korelin Economics Report hosts Industry Watch. Today Al talks with the CEO of Western Potash Corp. (TSX.V: WPX) Patricio Varas.
Patricio is a Professional Geologist with over 23 years experience in exploration, project and corporate management. Pat has worked and collaborated with major and junior mining companies in exploration projects that span North and South America, Europe, Africa, Asia and Australia.
Mr. Varas was involved in the discovery of the Diavik Diamond mine as a project manager while at Kennecot Canada Inc. and was instrumental in the project management that led to the discovery of the Santo Domingo Sur deposit in Chile with Far West mining.
Western Potash Corp is a Junior Potash Exploration company engaged in the acquisition, evaluation and exploration of potash mineral properties. Western Potash Corp. intends to define and delineate world class deposit(s).
The term "potash" refers to a group of potassium (K) bearing minerals and chemicals. The chemical symbol, K, comes from the Latin kalium which in turn, is derived from the Arabic word for alkali. Potassium is too reactive to occur naturally and is always found in compounds.
The dominant potash in the market is the compound, potassium chloride or KCl, a naturally occurring pink, salty mineral for which Canada is the world's leading producer and exporter.
Ninety five percent of all potash production goes into the agricultural sector where it is used as a plant nutrient. Typically as a component of N-P-K fertilizers or compound fertilizers which combine Potash with N (nitrogen) and P (Phosphate). Potash plays a critical role in the regulation of plant physiological functions: It strengthens cell walls, aids in water retention, improves disease resistance and boost nitrogen and phosphate absorption. Enhancing these functions results in improved plant quality and increased yields. The role of potassium cannot be substituted by any other nutrient and potash has no commercial substitute as a potassium fertilizer source. Manure and Glauconite are low potassium sources that can be transported short distances to crop fields.
The fundamentals for potash are unique in the fertilizer marketplace.
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