Agrimin Limited (ASX:AMN)
Agrimin Limited (ASX:AMN) is a Western Australian based minerals company. Agrimin has 100% ownership of the large-scale Mackay Sulphate of Potash (SOP) Project located in Western Australia.
Agrimin’s strategic focus on SOP is motivated by excellent market fundamentals which are supportive for the creation of a new large-scale SOP producer. Growth in demand for fertilizers, including SOP, is forecast to be driven by the world’s need to feed growing populations from shrinking arable land resulting in the need to improve agricultural yields. Accordingly, Agrimin expects that SOP deposits throughout Western Australia will become an important source to meet increasing world demand.
The Mackay SOP Project spans 4,370 square kilometres and is situated on the world’s largest undeveloped SOP-bearing salt lake. Agrimin’s first 20 years of planned operations are supported solely but SOP resources the top 3 metres of the deposit. In 2017, a geophysical survey indicated that the deposit could extend up to 200 metres deep. On 7 May 2018, Agrimin reported the results of a positive Pre-Feasibility Study.
Agrimin has progressed the project from an exploration phase to a substantial development project with significance to the local region and the State of Western Australia. Agrimin has signed a Native Title Agreement with the Kiwirrkurra people which provides the necessary consents for the project’s development and operations. The local Kiwirrkurra people have provided strong support to Agrimin and are enthusiastic about the range of opportunities that a long-term and large-scale project can create. The Mackay SOP Project has the potential to provide substantial benefits, including support for a number of land projects that are being implemented under the Kiwirrkurra IPA Plan for Country which manages and protects the biodiversity and cultural resources within the vast Kiwirrkurra region.