The Lake Way potash project, in Western Australia, is fully funded after owner Salt Lake Potash executed a $138-million debt financing package and a fully underwritten equity placement and accelerated non-renounceable entitlement offer to raise A$98.5-million.
The ASX-listed Salt Lake on Wednesday said that a $138-million syndicated facility agreement was struck with Taurus Mining Finance Fund, which will provide $91-million in funding, and the Australian federal government’s Clean Energy Finance Corporation (CEFC), which will fund up to $47-million.