More offtake secured at Lake Way
PERTH (miningweekly.com) – Potash developer Salt Lake Potash has inked a binding term-sheet with trading and investment giant Mitsui & Co for the sale of sulphate of potash (SoP) from its Lake Way project, in Western Australia, into Bangladesh, Cambodia, Japan, Malaysia, the Philippines, South Korea, Sri Lanka and Taiwan.
The sales agreement will span a period of five years, and will see Salt Lake initially provide 4 000 t/y of SoP to Mitsui.
The two companies are also developing a further agreement for additional tonnes of water soluble SoP to be sold into emerging markets, with the soluble market providing premiums of up to 20% above the standard SoP pricing.
With the Mitsui & Co contract now signed, Salt Lake has secured offtake for 224 000 t/y of the 245 000 t/y planned production at Lake Way, with the remaining tonnes to be sold into the local and spot markets.
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.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation