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DENVER, CO, June 01, 2020 (GLOBE NEWSWIRE) -- Intrepid Potash Inc. (IPI) (“Intrepid”) which is proud it has been recognized as an essential business by the New Mexico Governor, today announced it safely sold a record volume of Trio® to domestic customers during April.
“Most importantly, our team accomplished this work safely and under mandated COVID-19 safety guidelines and procedures, including social distancing.” said Mark McDonald Intrepid’s Vice President of Sales. “With cooperative weather for most of the spring, we saw customers move their purchases into earlier in the season and our team was up to the challenge. Achieving a record month takes daily cooperation and communication across all lines of our business, and we want to thank our customers, the transportation industry, production and loadout staff, and our sales and marketing team for their hard work and dedication to following the COVID-19 safety guidelines during this pandemic. We are grateful and fortunate to be able to keep our workforce employed during this uncertain time.”
“As the spring season slows down significantly in May and June, we are reminded of the value our customers place on this specialty fertilizer and we are proud to serve the American farmer working so hard through the COVID-19 pandemic to keep the agricultural food chain alive and well and feeding Americans.”
Intrepid is a diversified mineral company that delivers potassium, magnesium, sulfur, salt, and water products essential for customer success in agriculture, animal feed, and the oil and gas industry. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed. In addition, Intrepid produces a specialty fertilizer, Trio®, which delivers three key nutrients, potassium, magnesium, and sulfate, in a single particle. Intrepid also provides water, magnesium chloride, brine, and various oilfield products and services.
Intrepid serves diverse customers in markets where a logistical advantage exists and is a leader in the use of solar evaporation for potash production, resulting in lower cost and more environmentally friendly production. Intrepid's mineral production comes from three solar solution potash facilities and one conventional underground Trio® mine.
Intrepid routinely posts important information, including information about upcoming investor presentations and press releases, on its website under the Investor Relations tab. Investors and other interested parties are encouraged to enroll at intrepidpotash.com, to receive automatic email alerts for new postings.
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause Intrepid’s actual results in future periods to differ materially from anticipated or projected results. Forward-looking statements in this press release include, among others, statements regarding Intrepid’s expectations of future Trio® sales volume. An extensive list of specific material risks and uncertainties affecting Intrepid is contained in its Annual Report on Form 10-K for the year ended December 31, 2019, and other quarterly and current reports filed with the Securities and Exchange Commission from time to time. Any forward-looking statements in this press release are made as of the date of this press release, and Intrepid undertakes no obligation to update or revise any forward-looking statements to reflect
Matt Preston, Vice President of Finance