viewSalt Lake Potash Ltd

Salt Lake Potash granted 'Green' label loan certification for Lake Way SOP Project

The label provides assurance to stakeholders of the positive environmental contribution of SOP production at the project.

Salt Lake Potash Ltd - Salt Lake Potash granted green label certification for Lake Way Project loan
First revenues from the project are expected in the first quarter of 2020

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) has been granted green label certification for debt issued to develop its Lake Way Sulphate of Potash (SOP) Project, which confirms the Western Australian project's positive environmental aspects

The green label is set out by the Loan Market Association (LMA) and Asia Pacific Loan Market Association (APLMA) green loan principles and will be positive for the company’s debt partners, as well as all other stakeholders including the local community, offtakers and suppliers.

This designation also covers associated governance procedures relating to correct management of proceeds and reporting.

“Positive environmental contribution”

Salt Lake Potash chief executive officer Tony Swiericzuk said: “We are delighted to have received the ‘Green’ label designation for the Lake Way Project, confirming the positive environmental contribution our project will make towards reducing emissions from the global fertiliser industry.”

Shares have been as much as 4% higher to A$0.61 and are up from A$0.32 at close on April 29.

The company’s eligibility was assessed by DNV GL.

Low emissions

As part of the review for certification, Wood Canada Limited conducted a technical assessment of greenhouse gas emissions of SOP production at Lake Way, relative to Mannheim SOP production in other locations.

The assessment concluded that a Mannheim process plant of comparable capacity would have 60% higher carbon dioxide emissions than the Lake Way Project.

Quick facts: Salt Lake Potash Ltd

Price: 30.45 GBX

Market: AIM
Market Cap: £112.4 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Salt Lake Potash Ltd named herein, including the promotion by the Company of Salt Lake Potash Ltd in any Content on the Site, the Company...



Salt Lake Potash CEO says securing debt and equity package is 'massive last...

Salt Lake Potash Ltd's (ASX:SO4) (LON:SO4) Tony Swiericzuk speaks to Proactive London's Andrew Scott following news of its A$203 million debt financing package and A$98.5 million fully underwritten equity raising which sees the Lake Way Sulphate of Potash (SOP) Project fully funded. He says the...

1 week ago

2 min read