Potash Ridge clinches 25% take-or-pay agreement

Near-term crop nutrient producer Potash Ridge's Quebec-based subsidiary Valleyfield Fertilizer Corp has signed a preliminary nonbinding, multiyear agreement with a prominent fertiliser distribution partner, representing about 25% of Valleyfield's initial yearly potassium sulphate (SOP) output. The Toronto-based Potash Ridge said a portion of the distribution volume falls under a take-or-pay formula, which together with several other commercial contracts in place, positions the company to pursue project financing negotiations.