Compass Minerals and Utah Division of Forestry, Fire and State Lands Finalize Voluntary Agreement for Great Salt Lake Conservation
Agreement Includes Significant Water Rights Donation to the State
“The Great Salt Lake is a vital ecosystem and economic engine that we must all work to protect, and Compass Minerals stands with the many diverse stakeholders contributing toward the preservation of this globally significant resource,” said Edward C. Dowling Jr., president and CEO. “Through this Voluntary Agreement, we commit to significant contributions toward lake health, while also ensuring future predictability in our water use allotment that supports sustainable production at our
Per the terms of the Agreement, Compass Minerals will donate non-production-related water rights totaling approximately 201,000 acre feet annually to be used by the
“This agreement is an example of the good we can accomplish when public and private come together to be a part of the solution,” said
Statutory authority and subsequent benefits for operators to enter into Agreements of this nature was established during the 2024 Utah legislative session through the passage and enactment of House Bill 453 (H.B.453), “Great Salt Lake Revisions”. This legislation, now
“When lake levels are high, Compass can withdraw up to its existing water right, just as they could always do – but in years with lower lake levels, they have committed to decreasing their water use – or suspending it completely if the lake reaches the critical levels we experienced several years ago,” Jamie Barnes, director of the Utah Division of Forestry, Fire and State Lands, said.
As part of its regulatory authorities, FFSL is responsible for managing Utah’s sovereign lands, including the beds and banks of navigable rivers and lakes within the State.
“We have been working with stakeholders across the state to identify ways to conserve water and ensure it makes it to the lake,” said Brian Steed, Great Salt Lake Commissioner. “We recognize restoring the lake to healthier levels will take years, and we appreciate the action Compass Minerals is taking today to help protect the lake. Together, we can make a difference.”
Compass Minerals’
About Compass Minerals
Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, it is working to develop a long-term fire-retardant business. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the
Forward-Looking Statements and Other Disclaimers
This press release may contain forward-looking statements including, without limitation, statements regarding future operational stability, the donation of water rights and remission of leasehold, the impact of such donation and remission on mineral production, severance tax relief, protections against potential eminent domain actions and the ability to proactively negotiate water conservation commitments. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the company’s other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law.
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Media Contact
Rick Axthelm
Chief Public Affairs and Sustainability Officer
+1.913.344.9198
MediaRelations@compassminerals.com
Investor Contact
Brent Collins
Vice President, Investor Relations
+1.913.344.9111
InvestorRelations@compassminerals.com
Source: Compass Minerals