PERTH (miningweekly.com) – Potash developer Salt Lake Potash has inked a binding term sheet with chemical and fertilizer company HELM AG for 50 000 t/y of sulphate of potash (SOP) over a ten ytear period.
“It is an outstanding achievement for Salt Lake to secure such a world class partner in HELM for the sale and distribution of premium SOP product that will be produced at our Lake Way project,” said Salt Lake CEO Tony Swiericzuk.
“This brings our committed sales to 220 000 t/y, representing 90% of the total planned production from Lake Way. This is a key milestone for Salt Lake and supports our funding and development strategy for the Lake Way project.”
Salt Lake is developing the A$254-million Lake Way project, in Western Australia, which is expected to produce 245 000 t/y of SOP over a mine life of 20 years, based on the high grade probable ore reserve of 5.4-million tonnes SOP.