Asia Pacific Resources: Norsk Hydro Confirm Commitment to Timely Development of Somboon Project, Development Plan and Budget Approved.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 4, 2001 Asia Pacific (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APQCF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :APQ APQ Accordo di Programma Quadro APQ Association des Paraplégiques du Québec APQ Association des Pathologistes du Québec APQ Art Pepper Quartet (jazz group) APQ Armaments Planning Questionnaire APQ Advanced Placement Question .)(FRANKFURT:APQ.) Following the issue of Special Atchayabats and other project approvals to Asia Pacific Potash Corp. (APPC (Advanced Program-to-Program Communications) A high-level protocol from IBM that allows one program to interact with another across the network. It supports client/server and distributed computing by providing a common programming interface on all IBM platforms. ), meetings have been held between Asia Pacific and Norsk Hydro ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and , in Oslo. Norsk Hydro confirmed it's commitment to join in as a minority partner in APPC's initiative on the timely development of the Somboon potash project, in northeast Thailand. Hydro and Asia Pacific have agreed a development plan and budget aimed at taking the Somboon project to financial close and release for construction during 2001. The budget will be jointly funded by the parties which will also allocate appropriate manpower resources. The parties also agreed to work together to identify additional equity parties and complete the project debt financing. Hydro has also informed Asia Pacific of their willingness to commit to the offtake and marketing of all potash produced by the project for the life of the Somboon mining operations. At full capacity this would be 2mtpa, and pricing will be based upon prevailing regional pricing at the time of delivery, with a marketing strategy based upon maximization of profits to the project. Asia Pacific Potash Corp. will maintain its 100% ownership of the Udon u·don n. A thick Japanese noodle made with wheat flour, usually served in soup or broth. [Japanese, wheat noodle.] potash deposit. Resolution of these issues, following the issue of the Special Atchayabats, Board of Investment Promotional Certificate and acceptance of the project Environmental Impact Assessment will enable finalization of outstanding project development issues leading to project implementation in the most timely manner. Gerald D. Wright, Chairman and Chief Executive Officer |
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