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Atlas Salt Enters MOU With Canadian National Railway

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Atlas Salt (SALT.V) entered into a non-binding Memorandum of Understanding (MOU) with Canadian National Railway (CNR.TO, CNI), to explore multi-modal rail solutions for the distribution of de-icing salt from Atlas' Great Atlantic Salt project in Newfoundland and Labrador, it said Thursday.

The company and CN plan to explore rail movement of de-icing salt on lanes served by CN's network, and to explore railcar supply and equipment solutions to support Atlas Salt's distribution requirements. The companies will also explore transload arrangements linking Atlas Salt's marine distribution with CN's inland rail network and logistics partnerships.

Atlas Salt said the MOU aims to assess how integrating rail logistics can reduce the project's delivered salt costs, expand its addressable market, and improve the project's economics relative to the Updated Feasibility Study.

Shares of Atlas Salt were last seen unchanged at C$1.70 on the TSX Venture Exchange.

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