According to PlanAcron subsidiary LLC Verkhnekamsk Potash Company, acting in accordance with the license agreement for the Talitsky area of the Verkhnekamsk potassium-magnesium salt deposit in Perm Krai, signed an agreement with prospecting company Genesis-Perm for drilling and geophysical exploration. The geological survey should take two years. During their visit to Perm Krai, top managers of VPC visited the deposit area and inspected the sites of future bore wells and existing infrastructure. VPC hired OJSC Gallurgiya to perform lab research for drilling work, develop legal requirements and pre-design the mining facility and negotiated with the Institute of Mining of the Urals Department of the Russian Academy of Sciences.
Verkhnekamsk Potash Company created a subdivision in Berezniki, where the Talitsky area is located, to coordinate design, geological and surveying service providers and monitor contract work.
Under the terms of the license agreement, design, coordination and confirmation of the project to develop the license area, as well as receipt of necessary positive findings from the relevant state appraisal boards should take less than three years. Construction will begin in mid-2012.