Beyondie Sulphate of Potash Project’ AUD 175 Million Project Financing

Allen & Overy’s Perth office has advised Germany’s KfW IPEX-Bank GmbH and the Northern Australia Infrastructure Facility.

The funding for the Beyondie Sulphate of Potash Project (BSOPP), owned by ASX-listed exploration and development company Kalium Lakes, will progress the 90 ktpa project towards a scheduled production date next year. Part of the funding from KfW is supported by a guarantee from the German Government Export Credit Agency, Euler Hermes.

Located 160km south east of the town of Newman, BSOPP is planned to be the first sulphate of potash production facility in Australia. German chemical company K+S has a 10-year contract to buy sulphate of potash from the project once production commences, which is expected to deliver approximately AUD650 million in revenue.

The A&O team advising KfW and NAIF was led by Partner Peter Wilkes (Picture), supported by Partner Goran Galic, Senior Registered Foreign Lawyer Jessica Stratford, and Associate Alexandra Ioppolo.

Involved fees earner: Goran Galic – Allen & Overy; Alexandra Ioppolo – Allen & Overy; Jessica Stratford – Allen & Overy; Peter Wilkes – Allen & Overy;

Law Firms: Allen & Overy;

Clients: KfW IPEX-Bank GmbH; Northern Australia Infrastructure Facility;

Author: Michael Patrini