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Salt Lake Potash signs offtake agreement with Mitsui & Co.

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World Fertilizer,

Salt Lake Potash Ltd has signed a binding term-sheet with Mitsui & Co. for the sale of water soluble sulfate of potash (SOP) from its Lake Way Project in Wiluna, Western Australia.

Mitsui is a major global manufacturer and distributor of fertilizers and will deliver the product into key Asian markets. Salt Lake Potash has now secured offtake for 224 000 tpy of the 245 000 tpy Lake Way production, with the remaining tonnes expected to be sold into local and spot markets.

The agreement with Mitsui & Co. is for the sale of SOP into Bangladesh, Cambodia, Japan, Malaysia, Philippines, South Korea, Sri Lanka and Taiwan over a period of five years.

Salt Lake Potash will initially provide 4000 tpy of SOP to Mitsui. Mitsui and Salt Lake Potash are developing a further agreement for additional tonnes of water soluble SOP to be sold into emerging markets.

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