PERTH (miningweekly.com) – ASX-listed Australian Potash has been granted Environmental Protection Authority (EPA) approval for its Lake Wells potash project, in Western Australia.
“We are very pleased to advise shareholders of the EPA board’s recommendation to the Minister that the Lake Wells project be approved for development. In any minerals project development, this is a seminal step, and one which the Australian Potash team can be rightly proud,” said MD and CEO Matt Shackelton.
The A$208-million Lake Wells sulphate of potash (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.
“We are continuing discussions in the offtake programme, with in excess of 75% of our forecast output already contracted under binding take or pay agreements. The plant engineering, procurement and construction (EPC) tender package has been issued and we are reviewing EPC bids received for several other packages.
“The formal debt due diligence process has commenced with domestic and international financing institutions now in the data room,” Shackelton added.