Compañía Minera Cordillera SCM (CMC), a new Chilean rock salt mining company and part of the Mahoney holding group (Eastern Minerals Group and Eastern Salt Group) has joined the Salt Institute. The Mahoney companies have been long-standing significant importers of deicing salt for roads along the east coast of the U.S.
CMC owns the "Tenardita" mine) in Salar Grande de Tarapacá, Iquique-Chile, with claimed reserves for more than 180 years and a purity exceeding 99%. The surface mining operation can produce 600 tons/hour with a 3-million ton annual production capacity.
US Salt Corporation has sold its only salt property, the former Akzo Nobel evap plant in Watkins Glen, NY., to a natural gas company seeking US Salt's salt cavern storage capacity for its product. Both seller US Salt and buyer Inergy Propane LLC are based in the Kansas City area. The Kansas City Business Journal reported August 11 that Inergy will invest $191 million in acquiring US Salt and expanding its storage capacity by 5 billion cubic feet. A second stage development would add a further 5 billion cubic feet. The story quotes Intergy CEO John Sherman's news release:
"First, the salt business is characterized by stable cash flows and long-term growth potential; and it meets all of our strict acquisition criteria. This transaction also provides us with a long-term pipeline of high-return storage development projects in the heart of the Northeast natural gas distribution infrastructure."
Welcome to the salt industry, Intergy.
