Catalan Supreme Court Approved Extension of ICL Iberia Operations at Sallent Mine

TEL AVIV, Israel, July 12, 2017 /PRNewswire/ --

ICL (NYSE:ICL & TASE:ICL), a leading global specialty minerals and specialty chemicals company, updates that Spain's Catalan Supreme Court has approved a request by ICL's Spanish subsidiary, ICL Iberia, to continue its use of the Cogullo salt pile at ICL Iberia's potash operations located in Sallent, in the Bages region of Catalonia, Spain.

ICL Iberia previously submitted a request for approval of additional solutions regarding its handling of the salt pile and an extension of the period for its dealing with the Sallent site beyond June 30, 2017. The court's decision enables the Company to continue its activities at the Sallent mine for an additional period of one year, until June 30, 2018, with an option for an additional year, subject to jurisdictional approval, while ICL Iberia completes its construction of a mining ramp at Cabanasses, Suria, and consolidates its mining operations at that location. Following the decision, the Catalan regulatory authorities have adopted the position of the court and amended its regulations accordingly.

The interim measures proposed by the Company - and accepted by the Catalan court - will result in a reduction in the amount of salt transferred by ICL Iberia to the Cogullo deposit, and will not exceed maximum height and volume requirements.

The court's decision allows ICL Iberia's continued operations at Sallent, which currently accounts for approximately half of ICL Iberia's potash production, until the Company ramps up its production at the Cabanasses mine.

The decision follows a resolution passed by the Catalan parliament in June calling upon the Catalan government to support the Bages mining industry. The resolution, which passed by a large majority (124:10), included a call for acceptance of the interim measures proposed by ICL Iberia and its continued salt piling at the Cogullo deposit for an additional two years. The resolution and court ruling demonstrates a reasonable balance between the interests and concerns of industry, government, the community and the environment.

ICL Iberia's phasing out of its operations at Sallent and its expansion at Cabanasses will not only increase ICL Iberia's efficiency and establish it as a competitive potash producer, it will also significantly improve ICL Iberia's environmental footprint and its efforts to engage in sustainable mining.  

About ICL  

ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs approximately 13,000 people worldwide, and its sales in 2016 totaled US$5.4 billion. For more information, visit the company's website at http://www.icl-group.com.

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SOURCE ICL