Sunday, November 11, 2012

Arizona potash getting attention

 Forbes magazine online ran a feature story entitled "How Arizona Is Helping America Reduce Dependence On Foreign Natural Resources."   The author concludes, "if you had to choose a location to build a mine, few spots seem any more hospitable than Arizona. Much of the drilling will occur on state lands which are actually owned by the “Arizona State Trust” (AST) and is regulated by the Arizona State Land Department. The AST will receive a small royalty, in the neighborhood of 4-5% of revenue and 90% of those funds collected are distributed to the public school system. Second, if the mines actually do get built and go into production, each mine may create over 750 new jobs, which would become available in an impoverished area of the state. Arizona views the Holbrook Basin a as a potential economic growth engine and is not looking to be obstructionist."
The online investment site Seeking Alpha had an article focusing on Arizona potash and Passport Potash in particular, at .   The article contains a number of good external links to other articles information sources including interactive Holbrook land and drilling map. 

Last week, the Arizona Oil & Gas Conservation Commission issued permits to Passport Potash for 8 exploration coreholes on Hopi-owned lands.   Passport and the Tribe recently signed an exploration agreement and these will be the first tests of mineral potential on the Hopi lands.  [Right, AZGS/AZOGCC online viewer of permitted coreholes]

1 comment:

  1. Anonymous1:29 PM

    Regarding your Arizona potash getting attention blog, I couldn't agree more that the Holbrook area is impoverished and the potential for jobs and economic growth would certainly be welcomed by the surrounding communities. However, there are few individuals with the necessary mining skills currently available in the local job market and consequently a large percentage of the jobs will probably go to outsiders willing to move to Northeastern Arizona. This is already evident as American West and Passport are both using out of state and foreign companies for exploration and mine planning purposes. Perhaps American West and Passport haven't noticed but there are well qualified individuals and companies available right here in Arizona who are willing to work on their projects given a chance and a multitude of people willing to be trained.