Reward Minerals (ASX: RWD) has been granted Major Project Status by the Federal Government for its $450m Lake Disappointment brine and sulphate of potash project in the remote northwest of WA.
The project, located about 320km east of Newman in WA, aims to produce about 400,000tpa of sulphate of potash by abstracting potassium-rich brines from sediments and using solar evaporation on the surface of the lake.
Federal Resources, Water and Northern Australia Minister Keith Pitt says the project will support economic growth and new job opportunities in Northern Australia.
“The Lake Disappointment project has an initial life of 25 years and will help Australian farmers access the fertiliser they need to improve production and grow food for both Australia and for export,” he said.
“Importantly, the project will create new opportunities to export potash, and is in an ideal location to supply growing markets in Southeast Asia, India and potentially East Africa.
“The project will also provide employment opportunities and royalties to the Martu Traditional Owners.”
Federal Industry, Science and Technology Minister Christian Porter says the project would create about 230 jobs during construction and an additional 200 direct jobs during operations.
Reward Minerals is a potash-focused exploration and development company, with its flagship project being the 100% owned Lake Disappointment sulphate of potash project, located in the Little Sandy Desert of northwestern WA, which hosts one of the largest sulphate of potash deposits in the world.
