PERTH (miningweekly.com) – Work at the Beyondie sulphate of potash (SoP) project, in Western Australia, has been accelerated after ASX-listed Kalium Lakes completed a A$48.8-million capital raise.
The company on Friday said that various contractors would be mobilised in the coming weeks to undertake a number of work programmes including the pond construction earthworks; an 80-km gas pipeline installation; purification plant engineering, procurement and construction work; construction of the residual workshop, village and administration facilities; and final equipping and pipeline connection of sunshine bores and trench networks.
Kalium Lakes recently raised A$48.8-million through the completion of a share placement and the institutional component of its entitlement offer, priced at 15c a share.
MD Brett Hazelden said on Friday that with the institutional component of the raise completed and the retail entitlement component to close early next week, the company was now able to concentrate on accelerating construction and operations at Beyondie.
“We have come out of the delay much stronger, focused on fully aligning and achieving completion of the Beyondie SoP project, which will then contribute to a growing Australian SoP market, 100% of which is currently imported from overseas, for the important agriculture sector,” Hazelden said.
Once in production, the Beyondie project will produce 180 000 t/y SoP, with the option to incrementally phase the project through a ramp-up from 90 000 t/y to 180 000 t/y to minimise operational and financial risks.