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Salt Lake Potash secures production offtake agreement with HELM AG

Published by
World Fertilizer,


Salt Lake Potash (SO4) has signed a binding term sheet with HELM AG for the sale of sulfate of potash (SOP) from the Lake Way Project, Australia.

Highlights

  • Binding term sheet signed with world leading fertilizer company with a volume commitment of 50 000 tpy for 10 years
  • SO4 has now secured 220 000 tpy of offtake representing 90% of total planned production for five and ten year terms from commencement of shipping in 2021 with take or pay arrangements on product resale
  • Final purchase agreements based on the executed term sheets are well advanced with each of the offtake couterparties
  • Binding agreements support SO4’s strategy of diversifying distribution across key global premium SOP seabourne markets

Tony Swiericzuk, SO4 CEO, said:

“It is an outstanding achievement for SO4 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. This brings our committed sales to 220 ktpa representing 90% of the total planned production from Lake Way. This is a key milestone for SO4 and supports our funding and development strategy for the Lake Way Project.”

Read the article online at: https://www.worldfertilizer.com/potash/18122019/salt-lake-potash-secures-production-offtake-agreement-with-helm-ag/

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Fertilizer project news