Utah State Office
| Contacts: | Jenny Hammond | , 801-539-4061 |
BLM Utah Announces Potash Lease Sale Results
Out of four bidding entities, Peak Minerals Inc was the highest bidder on all 64 parcels offered at the April 5 Bureau of Land Management competitive potash lease sale. Peak Minerals bid $203.57 per acre on all 64 parcels totaling approximately 125,762 acres of potassium-rich brines to produce potash. The acres offered in the sale are geographically known as the Dry Sevier Lake bed.
Due to federal rules on the leasing of solid minerals, an entity in one state may lease no more than 96,000 acres. Therefore, Peak Minerals Inc will be required to relinquish parcels until they meet the 96,000-acre limit. The relinquished parcels will be offered to the second highest bidder on each individual parcel. The second highest bidder has the option to accept or reject the offer. The other bidders were Great Salt Lake Minerals Corp, Luke Kline and Mathews Eggers, and Bro Energy LLC.
The BLM manages more than 245 million acres of public land, the most of any Federal agency. This land, known as the National System of Public Lands, is primarily located in 12 Western states, including Alaska. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. The BLM's multiple-use mission is to sustain the health, diversity, and productivity of the public lands for the use and enjoyment of present and future generations. In Fiscal Year 2012, activities on public lands generated $4.6 billion in revenue, much of which was shared with the States where the activities occurred. In addition, public lands contributed more than $112 billion to the U.S. economy and helped support more than 500,000 jobs.
Utah State Office 440 West 200 South, Suite 500 SLC, UT 84101-1345