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Agrimin receives government funding for Tanami Road

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World Fertilizer,

Agrimin has said the Australian Government will allocate AUS$400 million in additional funding to completely seal the Tanami Road to the Western Australian border, improving safety, accessibility and flood resilience to better support communities and industries along the route. This proposed funding is directly applicable to the section of the existing unsealed Tanami Road that Agrimin plans to utilise during trucking operations.

An initial funding allocation for the Tanami Road occurred in 2019 and accordingly the cost of sealing the Tanami Road is not included within the company’s capital cost estimates. Main Roads Western Australia has developed plans to seal the first 20 km section south of Great Northern Highway near Halls Creek in 2022. Detailed design, ground surveys and approvals are also planned or underway for the following sections.

The proposed funding announced in the Federal Budget is separate to the company’s discussions with the Northern Australia Infrastructure Facility (NAIF). The NAIF Board has previously expressed its interest to provide concessional longer term debt finance for the Mackay Potash Project, with particular reference to the company’s proposed infrastructure.

Mark Savich, CEO of Agrimin, commented: “We welcome this important funding announced by the Federal Government for the Tanami Road. This funding will support the development of Agrimin’s world-class and longlife Mackay Potash Project, as well as create long-lasting job opportunities for several of Western Australia’s most remote communities.

“The sealing of the Tanami Road, in combination with Agrimin’s haul road development connecting Lake Mackay to the Tanami Road, will result in a significant investment in infrastructure throughout northern Australia and establish an important new supply chain for the region.”

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