Kalium Lakes Pty Ltd (WA)
The NAIF loan is a key contributor towards Kalium Lakes Limited, the developer of the Beyondie project, becoming Australia’s first Sulphate of Potash (SOP) producer and the creation of a new domestic industry as there is currently no SOP production in Australia.
About the Project
Kalium Lakes is an Australian, publicly listed exploration and development company, focused on developing the Beyondie project in Western Australia with the aim of producing SOP, a high yield, premium fertiliser, for both domestic and international markets. SOP is used to cultivate fruits, vegetables, berries, potatoes, beans, cocoa, tobacco and tree nuts.
The project aims to commence production at 90ktpa of SOP, before ramping up to 180ktpa. It is designed to be a low cost, long life and high margin producer with an initial mine life of between 30-50 years.
- 78km lateral gas pipeline (to be connected to the Goldfields Gas Pipeline).
- Gas fired power station.
- Upgrade of a connecting road (to the Great Northern Highway).
- Communication facilities.
- Accommodation village
The Value NAIF Brings
NAIF has approved the provision of a $48m Infrastructure Development Facility and a Project Development Facility of up to $26m.
The NAIF loan approval was a major milestone for the Beyondie SOP Project. It:
- supports Australian agricultural producers with a greenfield project financing;
- fills a financing gap which private sector debt was unable to fill due to the nature of the commodity (not exchange traded) and it being the first domestic project of its kind; and
- will allow Kalium Lakes to bring forward construction of the gas pipeline and the on-site gas fired power station (reducing operating costs).
We are delighted to have the support of NAIF as we continue to develop this SOP project in Australia. Our team is very proud of the fact that NAIF recognises the public benefits of the Beyondie SOP Project, including providing a domestic source of a fertiliser which plays a significant role in improving agricultural yield and productivity, Indigenous engagement and the creation of jobs in local communities.
Kalium Lakes Managing Director
- Developing the existing strong relationship with local Traditional Owners groups, the Gingirana and Birriliburu peoples.
- Proactive identification and support of candidates for employment opportunities.
- Training and support to improve employee retention and career progression.
- Promotion of procurement opportunities and supporting Indigenous business capacity building.
Economic Impact and Public Benefit
- The project public benefit beyond that enjoyed by the proponent has been forecast by Deloitte Access Economics to be $169m over 30 years of the mine life.
- Benefits include 140 construction jobs and 56 jobs in operations.
NAIF’s media release regarding the Investment Decision to Kalium Lakes Limited can be found here