Project Stage: Exploration
Western Resources Corp. is publicly listed on the Toronto Stock Exchange under the symbol ‘WRX’. It is also traded on the Frankfurt Stock Exchange under the symbol of ‘WR0’.
Western Resources Corp. was created for the purpose of diversifying the company assets through a Plan of Arrangement with Western Potash Corp., the latter focused on developing a Potash Project named ‘Milestone’ near Regina, Saskatchewan. With the corporate reorganization completed in March 2017, Western Potash corp. has become a wholly owned subsidiary of Western Resources Corp.
Milestone continues to remain the key asset of Western Resources Corp. The Milestone Phase I Project is designed to produce 146,000 tonnes of potash per annum using innovative selective solution mining techniques and crystallization ponds. The Milestone Phase I Project has completed its detailed engineering and is now undergoing construction, which is expected to start full production in mid-2020. With the success of the Milestone Phase I Project, the new mining method will revolutionize the way potash is extracted in Canada, and Globally.
Major shareholders of Western Resources Corp. include Tairui Mining Inc. (“Tairui”), which owns 56.4% of the equity; China BlueChemical Ltd. (“China Blue”), which owns 10.1% of the equity through CBC (Canada) Holding Corp., a joint venture company with Benewood Holdings Corporation Limited (“Brentwood”); and China CAMC Engineering Co., Ltd (CAMCE), which owns around 2.3% of the equity. Tairui is a Beijing-based private equity investment company with a focus on the energy and mining industries. China Blue is a majority owned subsidiary of China National Offshore Oil Corporation (“CNOOC”) and Benewood is a wholly owned subsidiary of GUOXIN International Investment Corporation Limited, a financial investment company registered in Hong Kong.
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