Canadian resource company Western Resources Corp.'s fully owned unit, Western Potash Corp., has closed the second tranche of its $63.5 million loan facility.
Under the deal, Western Potash has closed $31 million of its loan facility with Appian Capital Advisory LLP, a London-based investment advisor.
With the latest funds from the facility, Western Potash Corp. will be able to finish the construction of the Milestone Phase 1 project and further develop the optimized mining plan.
Furthermore, the construction of the processing plant is expected to be completed in early May 2023, with plant production being initiated in December 2023.