Agrimin finds more buyers for Mackay potash
PERTH (miningweekly.com) – ASX-listed Agrimin has inked a binding offtake agreement with US-based Gavilon Fertilizer for the supply of 50 000 t/y of sulphate of potash (SoP) from the Mackay potash project, in Western Australia.
Agrimin has now secured offtake agreements for a total of 315 000 /y of SoP, representing 70% of the Mackay potash project’s planned production capacity of 450 000 t/y.
In May 2021, Agrimin signed a 10-year binding offtake agreement with Sinochem Fertilizer Macao for the supply of 150 000 t/y and in January signed a seven-year binding offtake agreement with Nitron Group for the supply of 115 000 t/y.
“Gavilon is another Tier 1 offtaker for Agrimin and we look forward to partnering with them to successfully market and sell Agrimin’s low carbon, organic S0P throughout the US,” said Agrimin CEO Mark Savich.
“The US represents an important SoP market and we are delighted to secure an offtake partner which has one of the largest and most efficient wholesale fertiliser distribution networks in the country.
“We have now committed our minimum target of 70% of planned SoP production under long-term offtakes, which is a significant milestone as we advance our Tier 1 Mackay potash Project to a final investment decision.”
Agrimin plans to produce up to 426 000 t/y of premium SoP over its 20-year life at Mackay, at an estimated capital cost of $409-million. This will make the project one of the largest global suppliers of SoP fertiliser, generating estimated yearly sales revenue of A$315-million.
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