Compass Minerals Acquires Rock Salt Minig Rights in Chile for $6.5 Mln. Shares Flat Late


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Compass Minerals International ( CMP ) has acquired the mining rights to 100 million tons of salt reserves in the Chilean Atacama Desert.

CMP invested $6.5 mln for the rights and will pay a small per-ton production royalty to the private seller if extraction commences in the future. Under the terms of the deal, the company will have the option to buy out the royalties obligation and maintain the mining interest outright after 15 years. The company said the site would require significant infrastructure development to establish extraction capabilities.

Shares of CMP are trading within a 52-week range of $62.85 - $81.36.

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This article appears in: Investing , Commodities

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