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PERTH (miningweekly.com) – The Australian government has granted ASX-listed Agrimin 'major project' status for its Mackay potash project, in Western Australia.
Industry, Science and Technology Minister Karen Andrews said the project would provide significant economic benefits at such a critical time.
“The project will create approximately 300 jobs during construction and 200 jobs during operations, and is estimated to support more than 600 jobs through the broader region and supply chain.
“New jobs and more revenue for the sector will be crucial as the economy continues to deal with and recover from the effects of Covid-19.
“Value-adding to our critical minerals offers Australia huge economic opportunities but given this fertiliser is used extensively by our farmers, it can also further strengthen our sovereign capability.”
Agrimin plans to produce up to 426 000 t/y of premium sulphate of potash (SoP) over its 20-year life, at an estimated capital cost of $409-million. This will make the project one of the largest global suppliers of SoP fertiliser, generating estimated annual sales revenue of A$315-million.
Resources, Water and Northern Australia Mininster Keith Pitt said there is growing international demand for Australia’s critical minerals.
“Potash is recognised as a critical mineral in the US and is important to other countries around the world. Overseas markets represent growing opportunities for Australia’s critical minerals, especially as they look to build their industry capabilities.” Pitt said.
Agrimin CEO Mark Savich said on Monday that the company was delighted to receive the support from the federal government, as it advanced its strategy of becoming the world’s leading seaborne supplier of SoP fertiilser.
“The granting of major project status is an acknowledgement of the Mackay potash project as being of strategic significance to Australia, along with producing long-term benefits through a contribution to exports, employment and infrastructure development.
“We look forward to working with the major project’s facilitation agency who will provide welcome assistance during our commonwealth government approvals process.”
Major project status provides companies with extra support from the Major Projects Facilitation Agency, including a single entry point for commonwealth government approvals, project support and coordination, and help with state and territory approvals.