Australian specialty fertilizer supplier agrees SOP off-take

25.03.2020

An Australian supplier of specialty fertilizer Redox will close a sulphate of potash off-take agreement with Australian Potash Limited, pending the closing of a final investment decision to develop its Lake Wells project in Western Australia.

Australian Potash Limited previously announced the signing of a binding term sheet for an off-take agreement with Redox for 20,000 tonnes per annum of K-Brite, its sulphate of potash product. Australia Potash Limited confirms the parties’ obligations under the binding term sheet are subject to and conditional on Australia Potash reaching a final investment decision to develop the Lake Wells project.

Redox is a supplier of specialty fertilizer products, such as calcium nitrate, ammonium thiosulphate, and magnesium sulphate, as well as other chemicals in many sectors.

Redox generated sales of AUS$704.934 million (US$417 million at today’s ex-rate) in the financial year 2019 and has operations in Australia, New Zealand, Malaysia and USA.

Managing Director and CEO of Australian Potash Limited Matt Shackleton, said in today’s statement: “We are pleased to be progressing with and look forward to finalising the terms of the final off-take agreement with Redox, covering sales and distribution rights to K-Brite in Australia and New Zealand.”

More information:
www.australianpotash.com.au

redox.com

 

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