Potash map

The Albany mining project southeast of Regina (light green area on map) could produce 329 million tonnes of potash, the companies behind the development say. (Rio Tinto)

A mining giant and major Russian fertilizer company say they're making progress on a large potash project southeast of Regina.

With Rio Tinto and Acron Group having formed a joint company, the Albany potash project that surrounds Francis, Sask., will now head into an environmental assessment and feasibility study, Acron said in a news release.

The joint venture company holds nine potash permits in this province, covering more than 230 hectares of land.

The Albany project area contains a recoverable amount of potash totalling 329 million tonnes, the company says.

Saskatchewan is home to most of Canada's potash production, as well as to a number of developments that are in their early stages.

One of the biggest is BHP Billiton's proposed Jansen mine, a $12-billion development located 140 kilometres east of Saskatoon.