Lake Disappointment gets federal backing
PERTH (miningweekly.com) – ASX-listed Reward Minerals’ Lake Disappointment sulphate of potash (SoP) project, in Western Australia, has bridged another hurdle with the federal Department of Agriculture, Water and Environment granting an environmental approval.
“This is one of our most significant achievements to date for the project, which now has the major environmental approvals in place that will allow full production at the prefeasibility study level of 400 000 t//y of high quality, organically certifiable SoP for decades to come,” said Reward CEO Greg Cochran.
Lake Disappointment is the first SoP project in Australia to be permitted under the dual standards of a six-week public environmental review process at state level, and under the Environmental Protection and Biodiversity Conservation Act.
The Western Australian Minister for Environment has previously approved Lake Disappointment.
The project is expected to require a capital investment of A$451-million, and is expected to generate life-of-mine revenues of A$6-billion and earnings before interest, taxes, depreciation and amortisation of A$2.5-billion.
The project will produce 400 000 t/y SoP for domestic and international markets over a 27-year mine life.
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