Reward’s (ASX:RWD) latest testwork returns high purity SOP
Reward Minerals latest optimisation work on its new Potassium Sulphate processing technology has culminated in the small-scale production of high purity SOP from both seawater and its own high-sulphate Kumpupintil Lake brine resource in Western Australia’s Little Sandy Desert.
The program finalised producing SOP with a concentration of 53.7 per cent potassium oxide, 56.8 per cent sulphate and less than 0.1 per cent chlorine, culminating in a 99.4 per cent pure product well above industry standard.
Reward CEO Lorry Hughes said the results were very positive, and the company believes its technical innovation is potentially transformative.
“To produce such high-purity SOP using readily available equipment and simplified processes could translate to significant reductions in capital and operating costs for commercial scale operations,” he said.
“Estimates of these costs will be generated as part of the current ESS planned for completion mid year.”
The work was a direct follow up after the company confirmed the efficacy of its new processing technology, The Reward Process, which when compared to commonly used processes, does not require mechanical harvesting or conventional flotation steps, potentially reducing capital and operating costs dramatically.
The global potassium sulphate market is rising, valued at US$4.03 billion in 2020 and expected to hit US$5.87b by 2026, driven by increased use as a high-quality fertiliser and in the production of specialty chemicals, pharmaceuticals, and cosmetics.
Reward will now further advance its process, finalising international patents and licensing, while engaging with international companies to discuss applications, including possible joint ventures, while awaiting results from its McKay Range SOP joint venture with Fortescue.
REWARD MIN FPO [RWD]