The Associated Press
HOBBS, N.M. (AP) - A multi-billion-dollar potash project that could employ hundreds of workers over the course of decades is moving toward reality for Lea County.
The president and chief executive for Intercontinental Potash, Sidney Himmel, says the company is moving forward and all signs are pointing to a successful operation beginning in the southeastern New Mexico county.
He says the community will have a good sense of the scope of the project by next month.
Intercontinental Potash announced last year it would be looking into reserves in the county of a low-sodium form of potassium sulfate found in a mineral known as polyhalite.
Potassium sulfate is highly valued in fertilizer. It sells for about $600 a ton.
Himmel says the company has already spent $16 million exploring the project.