News and Announcements
Kalium Lakes (ASX: KLL) recipient of $74M loan package from NAIF
- Published March 04, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- Kalium Lakes Limited has announced confirmation of $74 million project funding from the Board of the Northern Australia Infrastructure Facility (NAIF).
- This significant funding package will allow Kalium to bring forward the construction of a A$29 million, 78 km lateral gas pipeline.
- Funding will also be assigned to associated infrastructure support for the project.
Kalium Lakes Limited has announced confirmation of $74 million project funding from the Board of the Northern Australia Infrastructure Facility (NAIF). The funding package will support the development of the Beyondie Sulphate Of Potash Project.
This significant funding package will allow Kalium to bring forward the construction of a A$29 million, 78 km lateral gas pipeline. The pipeline will connect to the Goldfields Gas Pipeline and an on-site gas-fuelled power station. The implementation of the pipeline will mean reduced operating costs of approximately A$62-65 per tonne.
The funding will also support the Beyondie SOP Project with associated infrastructure support including upgrades to the unsealed road connecting the Beyondie SOP Project site to the Great Northern Highway, stretching 78 kilometres, accommodation to house over 120 people, new communication infrastructure and an airstrip.
The facilities are subject to final documentation and conditions.
About Kalium Lakes (ASX: KLL)
Kalium Lakes has completed a Bankable Feasibility Study (BFS) for the Beyondie SOP Project, aiming to commence production at 82ktpa of SOP, before ramping up to 164ktpa of SOP. The first production is anticipated in 2020 with an initial mine life of between 30-50 years. The Project has been designed to be a low cost, long life and high margin producer.
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