Potash Mining Zhongchuan Develop Saskatchewan

Potash mine Zhongchuan is seeking capital to develop potash commodity in Saskatchewan called KP488. Chinese mining concern acquired exploration rights in 2007 through its wholly owned subsidiary M&J Potash Corp. Zhongchuan International Mining Holding Ltd. is in partnership talks with China's sovereign-wealth fund China Investment Corp. Ltd. (CIC) for a major investment in a Canadian potash mine.

CaixinCaixin is a Beijing-based media group dedicated to providing high-quality and authoritative financial and business news and information through periodicals, online and TV/video programs.

Potash company Zhongchuan developing KP488 will require a steep $2 billion. The company has been in talks about tapping CIC's fund through a partnership since mid-2008, prompting the government agency to twice send staffers to Canada to study the project. A Zhongchuan source told Caixin that CIC has shown strong interest and wants a controlling stake. But negotiations are continuing.