Intrepid Selected for USDA Matching Grant Award to Support Carlsbad Sulfate of Potash Project
Key Highlights
- ➤USDA proposes approximately $139 million matching funding for Intrepid’s Carlsbad SOP project
- ➤SOP facility planned near Carlsbad, New Mexico, with approximately 220,000 tons annual capacity
- ➤Final investment decision currently targeted for late 2027
- ➤Project remains subject to final engineering, award completion, grant conditions, and investment approval
Expert Statements
Kevin Crutchfield, Chief Executive Officer of Intrepid Potash, Inc.
“We are pleased that the USDA selected Intrepid’s proposed SOP project for funding under its FIELDS Grant program.”
Kevin Crutchfield, Chief Executive Officer of Intrepid Potash, Inc.
“This possible future project could be a pivotal one for Intrepid by allowing us to turn American minerals into a fertilizer product American farmers need.”
Kevin Crutchfield, Chief Executive Officer of Intrepid Potash, Inc.
“As we continue to evaluate the project ahead of a final investment decision, we remain committed to our broader capital allocation priorities, with a focus on disciplined capital deployment and generating attractive long-term return on invested capital.”
Kevin Crutchfield, Chief Executive Officer of Intrepid Potash, Inc.
“We look forward to sharing additional details as the project advances.”
Intrepid Selected for USDA Matching Grant Award to Support Carlsbad Sulfate of Potash Project
Intrepid Potash, Inc. (“Intrepid” or “the Company”) (NYSE:IPI), a leading diversified mineral company serving the agriculture and animal feed markets, and the only U.S. producer of muriate of potash, today announced that the U.S. Department of Agriculture (“USDA”) selected Intrepid’s sulfate of potash (SOP) project for approximately $139 million in proposed matching funding to support the construction of a SOP manufacturing facility near Carlsbad, New Mexico, through its Fertilizer Investment & Expansion for Long-Term Domestic Supply (“FIELDS”) program. If constructed, the SOP plant would introduce a new product to Intrepid’s portfolio, further diversifying the Company’s product offerings and expanding its presence in specialty fertilizer markets by complementing its Trio(®) and potash fertilizer products.
Get started
Create a free account to read the full story.