Kalium Lakes Limited – Investment Decision
Mining and Resources
Development of the Beyondie Sulphate of Potash Project involving sulphate of potash (SOP) plus supporting infrastructure, located in the East Pilbara region of Western Australia.
The NAIF investment will help finance the development of the Beyondie Sulphate of Potash Project involving sulphate of potash (SOP), with initial production of 90ktpa SOP plus supporting infrastructure comprising:
- a 78 kilometre gas pipeline;
- a gas-fired power station;
- upgrades to an unsealed road connecting the project site to the Great Northern Highway;
- communication facilities;
- an airstrip; and
- an accommodation village that can support in excess of 120 people.
SOP is a high yield, premium fertiliser which will be sold in both domestic and international markets. SOP is used to cultivate fruits, vegetables, berries, potatoes, beans, cocoa, tobacco and tree nuts. Given there is currently no SOP production in Australia, this will create a new domestic industry.
NAIF’s long tenor and concessional terms will allow Kalium Lakes to bring forward the construction of the 78 km lateral gas pipeline to connect to the Goldfields Gas Pipeline and the on-site gas fuelled power station into Phase 1 of the Project.
*The financial assistance is subject to the finalisation of the WA Government’s consideration and agreement for the approved funds to be advanced.
Indigenous Engagement & Outcomes
All NAIF project proponents must develop a satisfactory Indigenous Engagement Strategy (IES). As part of this strategy, Kalium Lakes will assist Indigenous applicants throughout recruitment processes and provide on the job training, mentoring and up-skilling to improve capacity and retention rates.
Kalium Lakes has committed to promote the use of Traditional Owner businesses, including by actively identifying Traditional Owner businesses and inviting them to supply goods and services. Kalium Lakes will also preference contractors with effective Indigenous employment policies and programs as part of their procurement processes. The project will upgrade the mine road improving Traditional Owner access to country with Kalium Lakes providing ongoing support for cultural heritage and land management activities.
Economic Impact and Public Benefit
- The project is estimated to generate $169m net public benefit (in present value terms) over the first 30 years of mine life as well as providing the first domestic source of a fertiliser which plays a significant role in improving agricultural yield and productivity.
- It is estimated that the project will create up to 140 jobs in construction phase and approximately 56 jobs in the operational phase.
- Kalium Lakes has worked with the Australian Industry Participation Authority to develop an Australian Industry Participation Plan to provide opportunities for Australian suppliers.
NAIF’s media release regarding the Investment Decision to Kalium Lakes Limited can be found here