Australian Potash Ltd. (APC), Subiaco, Western Australia, reported on Sept. 7 that Western Australia’s Environmental Protection Agency (EPA) has recommended to the Minister for the Environment that the Lake Wells Sulfate of Potash Project be approved for development.
“In any minerals project development, this is a seminal step, and one in which the APC team can be rightly proud,” said APC Managing Director and CEO Matt Shackleton. He added that the plant Engineering, Procurement, and Construction (EPC) tender package has been issued and the company is reviewing EPC bids received for several other packages.
The formal debt due diligence process has commenced, with domestic and international financing institutions now in the data room. The company is requesting indicative term sheets by the end of the third-quarter/early fourth-quarter.
APC said it is continuing discussions for its offtake program, with a particular focus on North and South American markets. It said while it has over 75 percent of its forecast output under offtake agreements (GM Aug. 14, p. 32), material opportunities are being presented for consideration in these lucrative SOP markets. APC’s existing offtake agreements are for product to go to Europe, Australia, New Zealand, China, and Asia.