Fifth Deal Is For 20,000 tpa With HELM
Australian Potash Limited (ASX: APC) has signed its fifth binding term sheet in the Offtake Program with Tier 1 partner HELM AG (HELM) for the supply of 20,000 tonnes per annum (tpa) of premium K-Brite sulphate of potash from the Lake Wells Sulphate of Potash Project (LSOP).
Managing Director and CEO, Matt Shackleton, said the company’s 100% of DFS projected output is 150,000 tpa.
“APC now has 100% of its DFS output under offtake. This is a significant milestone for the Company, and bears testament to the open and cooperative relationship we have developed with our major offtake partner, HELM AG,” Mr Shackleton said.
“HELM continues to pursue their clear strategic direction of expanding their value in brand across the world’s major fertiliser markets, and importantly this includes the lucrative and under-supplied North American continental market. SOP economics are driven by demand for high-quality horticultural crops, which are grown in large volumes in this market.
“With the recent oversubscribed placement to institutional and private investors, the achievement of this 100% DFS offtake position, where we are in the approvals pathway with the EPA report being considered by the Minister’s department, and the syndicated debt facility negotiations drawing to a close, APC is positioned well for significant progress through Q1 2021.
“We look forward to providing updates presently on the development of the Lake Wells SOP project.”
HELM is a Hamburg, Germany, based family-owned company established in 1900. HELM is one of the world’s largest chemicals marketing companies.
The company secures access to the world’s key markets through its specific regional knowledge as well as its subsidiaries, sales offices and participations in over 30 countries. As a multifunctional marketing organisation HELM is active in the chemicals industry, in the crop protection industry, in pharmaceuticals and in the fertiliser industry.
