Kalium Lakes receives state backing for potash venture
November 20th, 2019
The Western Australian Government has supported Kalium Lakes’ development of the Beyondie sulphate of potash project (BSOPP).
WA Premier Mark McGowan signed off on a Northern Australia Infrastructure Facility (NAIF) loan to assist Kalium Lakes, recognising the company as a frontrunner in the emerging industry.
The BSOPP is on its way to becoming Australia’s first sulphate of potash (SOP) operation. The NAIF loan approval is one of the final steps in enabling Kalium Lakes to obtain financial close and start using the debt funding facilities.
Kalium Lakes expects construction to create 170 jobs for Western Australians and when production starts at the end of 2020, a further 70 jobs on-site in the Pilbara region, as well as support positions in Perth.
McGowan said the announcement demonstrated a government decision to lower rental rates for minerals in brine, such as potash, is producing positive results.
“The Beyondie project has a mine life of 30-plus years, so this is a win for local regional communities that we expect well create long-term, sustainable jobs,” McGowan said.
“My government is pleased to support this emerging industry through the introduction of lower rental rates, and the development of this project is another sign that our economy is heading in the right direction.”
Kalium Lakes managing director Brett Hazelden said the company appreciated the government’s support and looks forward to employing 170 more Western Australians during construction and a further 70 once production begins.
“Our mission to supply Aussie farmers with locally produced SOP remains as strong as ever, with first production scheduled for around this time next year,” Hazelden said. Read more…