Reward Minerals has been granted major project status by the Australian Government for the $450 million Lake Disappointment brine and sulphate of potash project in northern Western Australia.
The project aims to produce around 400,000 tonnes of sulphate of potash per year from mining and brine evaporation facilities at Lake Disappointment.
Minister for Industry, Science and Technology Christian Porter said the project would support around 230 jobs during construction and a further 200 direct jobs during operations.
“The Lake Disappointment project will strengthen the security of Australia’s agriculture sector and support the Government’s Ag2030 agenda to boost Australia’s agricultural production to $100 billion a year by 2030,” Porter said.
“Not only will the project improve domestic and global supplies of potash fertiliser, it will also create hundreds of jobs during construction and into the broader supply chain once completed.
“Awarding major project status recognises the importance of the project to Australia’s economy and exports, and will help the project deal with Government approvals.”
Reward Minerals chief executive officer Greg Cochran said the announcement is an important milestone for the company, coming at a time when it is actively seeking a strategic partner.
“We are proud to join the select group of projects with this recognition and wish to thank the agency for its thorough and professional approach throughout the assessment process,” Cochran said.
Minister for Resources, Water and Northern Australia Keith Pitt said the project will also support the Government’s northern Australia agenda to generate economic growth and new job opportunities.
“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,” Pitt 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.”
Reward Minerals is a potash-focussed advanced-stage exploration and development company with tenements covering approximately 10,000 square kilometres.