- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Kalium Lakes’ Beyondie Potash Project Gets Final Go Ahead
Consent for construction follows the successful completion of a capital raising in August that fetched AU$72 million for the Western Australian project.
Australia’s first sulfate of potash (SOP) project is one step closer to fruition after Kalium Lakes (ASK:KLL) received board approval to move ahead with full development.
The construction consent follows the successful completion of a capital raising in August that fetched AU$72 million in funding for the Western Australia project.
“This decision is the most significant in Kalium Lakes’ relatively short history and represents the culmination of an enormous amount of unremitting hard work by our close-knit team and key technology partners here in Australia and in Germany,” said Kalium Chairman Mal Randall.
This newly approved final investment decision will fast track construction activities from the current early works stage to full-scale construction.
“This milestone effectively triggers the use of the company’s financial capacity, to transform our core objective of becoming Australia’s first commercial sulfate of potash producer into reality,” said Randall. “The world-class Beyondie SOP project is now on track to join only a handful of existing primary SOP production facilities that are sparsely found around the world.”
Beyondie’s ore reserves are estimated at 5.14 million tonnes of SOP at 12,400 milligrams per liter of potassium sulfate. An initial mine life for the project has been pegged at 30 to 50 years.
Kalium plans for an initial production tally of 90 kilotonnes per annum (ktpa) of SOP, before ramping up to 180 ktpa of SOP for domestic and international sale.
With Kalium entering the definitive development stage, the company is on track for first production in the latter half of 2020.
“Kalium Lakes looks forward to Australian and New Zealand farmers being able to utilize our SOP towards the end of 2020, with full production capacity being achieved in 2021,” Managing Director Brett Hazelton said during a welcoming ceremony at the site on Wednesday (October 2).
SOP is a premium fertilizer that uses key ingredients paramount to plant and crop growth and viability: potassium and sulfur. SOP is used on high-value crops such as fruits, vegetables, tobacco, coffee and nuts, improving yields and building drought resistance.
Shares of Kalium slid 2 percent on Thursday (October 3), to trade at AU$0.49.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
The Beginner’s Guide to Investing in Gold (Australia Edition)
Ready to invest in gold? Our beginner's guide makes it simple to get started.
Download your investing guide today.
Learn About Exciting Investing Opportunities in the Gold Sector
Your Newsletter Preferences
Originally from Calgary, Georgia has been right at home in Toronto for more than two decades. Graduating from the University of Toronto with an honors BA in journalism, she is passionate about writing on diverse topics, including resources, arts, politics and social issues.
At INN Georgia covers a wide range of topics, including energy, battery and critical metals and diamonds. In her spare time, Georgia enjoys watching documentaries and experiencing Toronto's vibrant food, arts and cultural scene.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
Originally from Calgary, Georgia has been right at home in Toronto for more than two decades. Graduating from the University of Toronto with an honors BA in journalism, she is passionate about writing on diverse topics, including resources, arts, politics and social issues.
At INN Georgia covers a wide range of topics, including energy, battery and critical metals and diamonds. In her spare time, Georgia enjoys watching documentaries and experiencing Toronto's vibrant food, arts and cultural scene.
Learn about our editorial policies.