PERTH (miningweekly.com) – Junior Rum Jungle has signed a memorandum of understanding (MoU) with a major Japanese trading house for the potential future offtake of sulphate of potash from the company’s projects.
Rum Jungle owns a portfolio of sulphate of potash projects across a number of states, including the Northern Territory and Western Australia.
The company said on Wednesday that under the MoU, the two parties would formalise ongoing information flow and engagement regarding the progression of Rum Jungle’s potassium brine projects.
Depending on the progression of these projects, the Japanese partner could consider entering into binding product offtake agreements.
Rum Jungle MD Chris Tziolis said that while the MoU was nonbinding, and did not represent a commitment at this time, the Japanese firm was considered a preferred offtake partner for distribution into certain Asian markets.
“It is encouraging to know that should Rum Jungle be able to develop its sulphate of potash projects, there is a potential route to market and interest in this product as a regional agricultural input,” Tziolis said.