- Binding term sheets signed with three leading fertilizer distributors for the sale of Lake Way SOP with a total volume commitment of 170 000 tpy: - Unifert - 60 000 tpy in the Middle East and Africa
- 70% of total planned production committed for a five year term from commencement of shipping in 2021 with take or pay arrangement on product resale
- Discussions substantially advanced with an additional Tier-1 fertilizer group for sale of material quantity of production from the Lake Way project
- Binding agreements support SO4’s strategy of diversifying distribution across key global premium SOP seabourne markets
- Indagro - 50 000 tpy in North America and Europe
- Fertisur - 60 000 tpy in South America
Tony Swiericzuk, CEO, commented: “We are delighted to have finalised these offtakes for the sale and distribution of premium SOP product that will be produced at our Lake Way Project. Binding agreements with industry leaders, Unifert, Indagro and Fertisur support SO4’s marketing strategy of targeting geographical markets with strong growth in crops that benefit most from SOP fertilisers. SO4 continues to progress discussions with other leading fertiliser companies for the sale of our remaining SOP production"
Read the article online at: https://www.worldfertilizer.com/potash/21112019/salt-lake-potash-secures-production-offtakes-for-sale-of-sulfate-of-potash/