Why Invest

Intrepid is currently investing in multiple high return potash growth projects designed to increase our brine availability, brine grade, and production. Higher levels of potash production are expected to drive a significant improvement in our unit economics which should help improve our margins and cash flow.

Unabated turmoil in Eastern Europe has complicated the outlook for potash supply, with an estimated 30-40% of the world’s supply either subject to Western sanctions or potentially at risk. As a result, potash prices continue to be elevated compared to historical levels. Moreover, crops that consume high amounts of potash (like corn, soybeans, wheat, and palm oil) are also trading at relatively high prices, which is helping drive strong farmer economics and continued robust demand for our key products.

Muriate of potash (“potash” or “potassium chloride”) and Trio® (which is potassium, magnesium, and sulfate in a single particle) are essential fertilizers for plant growth, with potash also being used in various other applications. Farmers in the United States and around the world rely on these fertilizers to boost the quality and yield of their crops. Historically, global potash demand has seen a CAGR of roughly 2%, closely tracking population growth.

There is a heightened focus in the Western world for having reliable, secure supplies of natural resources, and we are proud to be the only producer of muriate of potash in the United States. In 2022, we supplied approximately 3.5% of the United States’ total potassium consumption. Moreover, our mines in New Mexico and Utah provide us with transportation advantages over our competitors for shipping our products, which generally allows us to obtain a higher average net realized sales price per ton.

Intrepid has no long-term debt on our balance sheet and solid liquidity. This offers protection during downcycles, while allowing the Company to take full advantage of upcycles. A debt-free balance sheet also creates capital optionality, with the excess cash being available for growth projects or capital return to shareholders.

Our potash and langbeinite reserves each have substantial reserve lives, with remaining reserve lives for our actively mined areas ranging from approximately 24 years to more than 100 years, based on mineral resource and reserve estimates.

On a combined basis, Intrepid’s management team and Board of Directors own approximately 17% of Intrepid’s common shares outstanding.

Intrepid’s potash production comes from solar solution mines. Solar solution mining is a safe, cost efficient, and environmentally friendly production method. Unlike conventional underground potash mining – which can require a significant amount of energy produced from hydrocarbons to mine the potash ore and recover the potash – Intrepid’s potash is crystallized from solar energy as the brine evaporates from surface ponds, with the water we use also being returned to the atmosphere.