Lake Wells FID targeted for early 2021

25th September 2020 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Australian Potash on Friday said it was on schedule to take a final investment decision on its Lake Wells sulphate of potash (SOP) project, in Western Australia, by the first quarter of next year.

MD and CEO Matt Shackelton said on Friday that the company has made great progress across a number of work programmes to finalise the front-end engineering and design programme to a close, continguing with its offtake discussions, and running a competitive tendering process for all packages of work.

“The various approvals and permits required for us to commence works under the Minor and Preliminary Works approval previously granted by the Environmental Protection Authority are now being finalised, with site activities scheduled for the fourth quarter of 2020.

“Notwithstanding the operating restrictions caused by the Covid pandemic, it is very pleasing to report that Australian Potash remains on track to complete all of the above work programmes and make a final investment decision on developing the Lake Wells SOP project in early 2021.”

The A$208-million Lake Wells SOP project could deliver 150 000 t/y of SOP, based on the maiden reserve of 3.6-million tonnes, and would have a mine life of 30 years.