PERTH (miningweekly.com) – ASX-listed Kalium Lakes has executed an offtake term sheet with German fertilizer producer K+S for all of the Stage 1 sulphate of potash (SOP) production from the Beyondie project, in Western Australia.
Kalium MD Brett Hazelden said that the term sheet brought the Beyondie project a step closer to becoming Australia’s first SOP producer, with the aim of supplying Australian and overseas farmers with a locally produced product.
“With the term sheet for SOP offtake now completed, the Kalium Lakes team is now fully focused on concluding documentation for a binding offtake agreement with K+S in the coming months, as well as finalising the bankable feasibility study, which will occur in parallel with arranging financing for the Beyondie SOP project’s development,” he added.
It was proposed that Kalium would supply 75 000 t/y of SOP to K+S over an initial ten year term.