Reward Minerals hails strong economics for SOP extraction technology
Melbourne, Victoria
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September 28, 2023 04:10 PM Eastern Daylight Time
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.”
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