Karnalyte to review magnesium production strategy at Wynyard project
Potash development company Karnalyte Resources has announced plans to review its development strategy, exploring the potential of increasing magnesium chloride production at its Wynyard project in Saskatchewan.
The TSX-listed company aims to co-develop its magnesium assets alongside its potash project, taking advantage of the abundant carnallite deposits within its mineral resource.
"We have initiated preliminary studies to determine the economic opportunity of co-developing magnesium and potash production from the company's underground deposits," said Karnalyte CEO Danielle Favreau.
The review will focus on the use of advanced solution mining technologies to enhance the co-production of magnesium chloride and potassium chloride, targeting an increase in magnesium chloride output.
Carnallite, also known as hydrated potassium magnesium chloride, is abundant within the company's mineral deposit. The studies are determining the economic balance of developing carnallite for the co-production of magnesium chloride and potassium chloride with the aim of significantly increasing magnesium chloride production, compared to previous studies, through the application of advanced solution mining technologies.
"Our goal is to create the most economically feasible operation we can while delivering value to shareholders," said Favreau.
"In light of the increasing importance of magnesium in the green and digital economy, we are reevaluating our strategy."
Magnesium, classified by Canada as one of the country's 34 critical minerals, plays a key role in clean technologies and advanced manufacturing. It is also on the critical minerals lists of major economies such as the US, EU, Japan, South Korea and Australia.
Magnesium chloride is a crucial raw material used in industries such as semiconductor manufacturing, lithium-ion battery production, metallurgy, pharmaceuticals, and wastewater treatment.
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