Reward Minerals hails strong economics for SOP extraction technology
September 28, 2023 at 04:11 pm
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Reward Minerals Ltd (ASX:RWD) CEO Lorry Hughes speaks with Proactive after releasing favourable results from an engineering scoping study (ESS) which examined the potential for recovering high-purity potassium sulphate (sulphate of potash or SOP) from seawater-derived brines in northwest Western Australia. The study, in collaboration with Bechtel Australia Pty Ltd, pointed to the commercial and technological feasibility of recovering 100,000 tonnes per annum of SOP using RWD’s processing technology, called the ‘Reward process’. Capital expenditure is estimated at A$198.2 million, with an operating cost of around A$273 per tonne SOP. The ESS serves as a preliminary assessment for Reward to evaluate further technical studies and potential joint ventures with third-party solar salt and SOP companies.
Hughes said: “The completion of a world-first evaluation of high-purity SOP production from seawater solar salt reject brines using the Reward Process is another important milestone not only for the company but for some solar salt and SOP producers globally.
“The study was completed with process engineering support from independent engineering group Bechtel under the guidance of Reward’s in-house team of chemical and engineering experts in the very specialised field of SOP brine developments.
“The low estimated operating cost of $301/tonne SOP on a FOB basis reflects the simplicity of the Reward Process and potentially positions the project favourably at the low end of the global cost curve.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Reward Minerals Limited is an Australia-based advanced-stage sulphate of potash exploration and development company. The Company is principally involved in mineral exploration. The Companyâs flagship project is Kumpupintil Lake Potash Project, which is located in the Little Sandy Desert, Western Australia, approximately 300 kilometers (kms) east of Newman and some 540 km south-east of Port Hedland. The Project is made up of 1,400 square kilometers (km2) of granted tenements covering Kumpupintil Lake. The Company is also focused on advancement of its 100% owned Carnarvon Potash Project, located north of Carnarvon in north-western Australia, which comprises one granted exploration license E09/2763. The 219 km2 tenement is located only 30km north of the town of Carnarvon in Western Australia. The Company is also the 100% owner and developer of new processing technology for recovery of high-purity sulphate of potash (SOP) from seawater and other high sulphate brines.
REWARD MINERALS LTD 