PotlatchDeltic Corp. has entered into a mineral lease agreement for about 900 acres of land it owns in Arkansas.

Through the agreement, the Spokane-based company has granted Tetra Brine Leaseco LLC exclusive exploration and production rights for bromine and lithium on the property, which is located in Lafayette County, in the southwestern portion of Arkansas.

Production isn't expected to start for five years, with planning, engineering, and construction scheduled to take place in the coming years. Once production commences, PotlatchDeltic expects to receive production payments for bromine and royalty payments for lithium extraction, in addition to the lease payments.

Eric Cremers, president and CEO of PotlatchDeltic, says in a release that the company has 5,000 to 7,000 acres with "lithium-bearing opportunities" and is in lease discussions with other companies.

In all, the Spokane company owns 2.1 million acres in seven states: Idaho, Alabama, Arkansas, Georgia, Louisiana, Mississippi, and South Carolina.

Late last month, PotlatchDeltic (Nasdaq: PCH) reported fourth-quarter net income of $5.2 million, or 7 cents a diluted share, up compared with a net loss of $140,000 in the year-earlier quarter. At that time, Cremers said the results represent strong performance in the company’s real estate division and stability in its timberland operations.

As of market close on Feb. 5, the company's stock was valued at $44.50 per share, closer to its 52-week per-share high of $47.65 than its $37.06 low.