Reward Minerals Ltd (ASX:RWD) has received validation of its potassium sulphate processing technology after the International Preliminary Examining Authority (IPEA) found that RWD’s claim 1-17 met the requirements for novelty under the Patent Cooperation Treaty (PCT) Article 33(2), inventive step under PCT Article 33(3) and industrial applicability under Article 33(4).
The IPEA is an international body that provides a preliminary and non-binding opinion as to the suitability of a technology to be patented.
The next step for Reward will be to file the regional and national applications by February next year, in the countries the company wishes to seek patent protection.
Key step to commercialisation
“This is another key step toward transforming the Sulphate of Potash (SOP) industry via commercialisation of Reward’s processing technology,” Reward Minerals CEO Lorry Hughes said.
“The technology is relatively simple, it negates the need for the removal of waste salts by expensive mechanical harvesting and it does not require complicated and expensive flotation processing steps to separate waste salts from SOP.
“All this points toward a significant reduction in production costs compared to existing operations and methods.
“Importantly, there appears potential for the first time globally, to produce SOP from waste brines or bitterns from solar salt operations using seawater as feed brine on a commercial basis.
“This could allow operations in coastal areas with established transport infrastructure to produce and ship SOP to market at competitive prices.
“By targeting cheaper costs of production as outlined in the company’s engineering study completed in September 2023 there should be opportunities to also grow the SOP market globally as it is a highly sought after fertiliser in short supply.”
From here RWD will focus on the continued commercialisation of its processing technology, while also advancing design and statutory approval for initial work programs at the Carnarvon Potash Project.
The company is also engaging 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.