Due to funding and operational setbacks faced by the three companies holding concessions for potash extraction, the Thai Prime Minister, Srettha Thavisin, has called for an acceleration of mining activities.

The concession-granting process followed environmental impact assessments, with Asean Potash Chaiyaphum Plc permitted to operate in Chaiyaphum, Asia Pacific Potash Corporation in Udon Thani, and Thai Kali Co Ltd in Nakhon Ratchasima.

Deputy Industry Minister Pimpatra Wichaikul hopes to attract Saudi investors by showcasing Thailand's rich potash potential, believed to be the fourth largest globally, concentrated in the Sakhon Nakhon and Korat Basins.

The urgency for production has been exacerbated by fertiliser shortages prompted by the pandemic, with surging prices escalating needs. If the three concessionaires cannot overcome their current challenges, Thailand may offer concessions to new entrants.

Saudi Arabia's interest in Thailand's potash industry stems from its potential to complement its own urea production. Potash is a crucial fertiliser component, and Saudi investment could help create a regional fertiliser export base to Southeast Asia, leveraging their existing nitrogen and phosphorus exports.