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Potash West NL advances agricultural supply opportunity for Asia, Australia

Last updated: 11:30 01 Mar 2016 AEDT, First published: 10:30 01 Mar 2016 AEDT

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Potash West NL (ASX:PWN) has entered into an agreement with FTI Consulting (NYSE:FCN) to assist the company in attracting a partner to develop the Dinner Hill superphosphate project within the Dandaragan Trough.

FTI have 4400 employees in 26 countries, and generated $1.76 billion in revenues during fiscal year 2014.

Dinner Hill is strategically located 150 kilometres north of Perth, adjacent to one of Australia’s largest fertilizer consumers, the Western Australian Wheatbelt.

Existing infrastructure connects the project to readily accessible Asian markets, including the rapidly increasing consumption areas of South East Asia, China and India.

Dinner Hill, is a low capex, low risk route to cashflow, through a phosphate project, which could then be followed by a high value potash project, operating in parallel.

Current JORC resources cover only a small portion of the exploration target but are already sufficient to support a 60 year mine life.

Patrick McManus, managing director for Potash West, commented: “Dinner Hill is the flagship project of our Dandaragan Trough province.

"It contains significant resources of both phosphate and potash. Scoping studies indicate a robust development plan of:

- Stage 1, production of single superphosphate, using established technology; and
- Stage 2, production of potash, phosphoric acid, and other products, using K-Max technology.

"In production, Dinner Hill will be a producer of fertiliser for many decades.

“The investor reach of FTI Consulting will market this project in areas that see strong long-term growth in agriculture and the demand for agricultural inputs.

"We believe that Dinner Hill can reduce the costs of a vital agricultural input to farmers in Western Australia and the region."

 

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