Reward Minerals Ltd (ASX:RWD) has been granted an exploration licence for its Carnarvon Potash Project (CPP) in Western Australia, from which it hopes to recover high-purity potassium sulphate (SOP potash or potash) from Bitterns that are derived from seawater-based solar salt operations using its newly developed processing technology.
Reward’s unique processing technology has the potential to recover SOP from Bitterns extracting value from brines that are disposed of in the ocean or stockpiled. Recovering SOP from waste brines using the Reward Process could become the lowest cost and the most ESG friendly way to produce potash globally.
The initial focus of exploration activity will be investigating the project’s potential to contain concentrated seawater type brines at shallow depth.
Reward's Carnarvon and KP Potash Projects in relation to the location of Western Australian Salt operations and development projects (Producers shown in orange text, approved or planned production capacity is labelled).
Following the evaporation and recovery of salt, the residual brine (Bitterns) containing 9-12 grams per litre of potassium are discarded. Reward has conducted numerous laboratory trials demonstrating that the potassium can be recovered from these Bitterns at potentially low cost. Reward plans to conduct pilot testwork and feasibility studies to recover Potassium Sulphate (K2SO4, SOP or Potash) and other industrial products from Bitterns at the Carnarvon Potash Project.
“An exciting new chapter for Reward”
Reward CEO Lorry Hughes said: “The grant of the CPP exploration licence is set to be the start of an exciting new chapter for Reward as we continue to advance the development of our novel SOP processing technology and seek to commercialise it as soon as possible.
“Located so close to a major regional town, established supplies of solar salt bitterns, gypsum, mains power and water, should allow us to inexpensively progress through the pilot stage of development in order to secure full scale development partners.
“In addition, there is also potential to sub-lease an existing camp and evaporation ponds located within the CPP that are owned by Beta Nutrition Pty Ltd which holds a 4,000 hectare Crown Lease for Algae cultivation. The Crown Lease partly overlaps the southern part of Lake Macleod and the CPP.
‘Since the completion of the ESS in September last year, Reward has been convinced that the development of SOP operations using reject brines from solar salt operations in ideal infrastructure locations such as Carnarvon can result in the production of the lowest cost and most ESG-friendly SOP globally.
“The pending change of ownership of Lake Macleod to a private equity owned company may provide a new dimension for potential developments. Reward had previously been engaged with Dampier Salt throughout initial phases of the development of the Reward processing technology prior to the sale agreement to Leichhardt”.
What's ahead?
Reward outlines its planned activities over the coming two quarters. This includes:
- the continued advancement of its processing technology toward commercialisation;
- the design and statutory approval of initial work programs at the project;
- engagement with solar salt, fertiliser and seawater desalination companies worldwide to discuss the application of Reward’s technology and proposed SOP developments for possible joint venture participation and investment;
- the advancement of the Cultural Heritage Management Plan for the KP Lake Potash project; and
- conducting due diligence activities on new projects within the minerals sector for potential acquisition.
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