Lake Disappointment gets Ministerial nod
PERTH (miningweekly.com) – The Western Australian Minister for Environment, Stephen Dawson, has approved the Lake Disappointment sulphate of potash (SoP) project.
Project developer Reward Minerals on Thursday said the Ministerial approval was the most significant milestone achieved to date for the project.
“Having been assessed at the most detailed level of all of the Western Australian SoP projects, this is a testimony to the tireless efforts of our team of highly experienced consultants and the challenging, yet always professional engagement we had with the Environmental Protection Authority regulators throughout the four-year assessment,” said Reward CEO Greg Cochran.
“In achieving this milestone, Lake Disappointment has become only the second Western Australian SoP project to be approved.”
“The approval comes during a tumultuous time when we are, as a nation, facing substantial economic challenges and its great to be one tangible step closer to the development of Australia’s largest high-grade SoP deposit.
“We remain optimistic that Commonwealth environmental approval for the project will be forthcoming in the near future in light of the state approval,” said Cochran.
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 amortization 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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