Reward to acquire Beyondie potash plant

The assets, located ~160kms south-east of Newman, Australia, were previously part of the Beyondie Potash Project which was constructed between 2020 – 2022 and operated by Kalium Lakes Limited (Kalium), up until administrators, and receivers and managers were appointed in August 2023.

Upon completion of the transaction, Reward will acquire the assets on an ‘as is, where is’ basis. Reward will manage care and maintenance activities at the site until it is able to relocate the plant, and will be responsible for dismantling and removing the assets from the plant area and rehabilitating the plant and facilities area.

The company notes that the transaction does not include acquisition of the power station, gas or brine supply facilities, evaporation ponds, accommodation camp and some other minor items of the greater Beyondie Potash.

Reward will acquire the Beyondie plant, administration and operations offices and minor associated infrastructure, via an agreement with Executive Director and major shareholder, Dr. Michael Ruane.

Directors and management of Reward believe that the Beyondie plant acquisition will provide an exciting opportunity for the company to progress its long-held ambition of producing SOP fertilizer from brine resources on a viable commercial basis.

While the Beyondie SOP operation did not achieve viable production status, the plant facility has many suitable components required for successful operation in a more favourable location. By combining this infrastructure with simplification of SOP production from resource brines using Reward’s recent advances in SOP technology, Reward believes that successful production of SOP on a commercial scale is more likely as a near term outcome.

Lorry Hughes, CEO of Reward, said: “Reward is delighted to announce this strategic, low cost and potentially transformative proposed acquisition that reinforces the Company’s commitment to pursuing opportunities which exist for recovery of Potassium Sulphate (Potash, SOP or K₂SO₄) from Western Australian solar salt operations.”

Read the article online at: https://www.worldfertilizer.com/potash/30092024/reward-to-acquire-beyondie-potash-plant/