The project owned by Reward Minerals aims to produce around 400,000 tonnes of SOP per annum
Reward Minerals is expected to produce 400,000 tonnes of SOP per annum from the project. (Credit: Katarzyna Kosianok from Pixabay)
Reward Minerals has secured Major Project Status from the Australian government for its AUD450m ($337.41m) Lake Disappointment Brine and Sulphate of Potash (SOP) project in Western Australia.
The project is targeting a production of nearly 400,000 tonnes of sulphate of potash per annum from mining and brine evaporation facilities at Lake Disappointment.
Located nearly 320km east of Newman in northern Western Australia, the potash project will generate nearly 230 jobs for its construction. An additional 200 direct jobs will be created by the project during operations.
Minister for Resources, Water, and Northern Australia Keith Pitt said that the Lake Disappointment project will bolster the security of the country’s agriculture sector.
Pitt said: “Not only will the project improve domestic and global supplies of potash fertiliser, it will also create hundreds of jobs during construction and into the broader supply chain once completed.
“Awarding Major Project Status recognises the importance of the project to Australia’s economy and exports, and will help the project deal with Government approvals.”
According to Reward Minerals, the Lake Disappointment features the country’s largest high-grade brine SOP deposit in a region with the highest evaporation rate.
The SOP project has secured all the important environmental approvals from the state and federal governments. Its development will begin after the conclusion of final feasibility studies, secondary regulatory approvals, and also financial closing.
Reward Minerals CEO Greg Cochran said: “This is an important milestone for Reward’s Lake Disappointment SOP Project, coming at a time when the Company is actively seeking a strategic partner.
“We are proud to join the select group of projects with this recognition and wish to thank the Agency for its thorough and professional approach throughout the assessment process.”
Apart from Lake Disappointment, the Australian government has awarded Major Project Status to FYI Resources’ AUD269m High-Purity Alumina Project in Kwinana, Western Australia.
The project aims to develop and operate a mine and processing plant to draw high-purity alumina for exports.
Within its initial 25-year timeframe, the project will process up to 198,000 tonnes of high-purity alumina. It will have a production capacity of 8,000 tonnes per annum.