- Salt Lake Potash said it had signed three binding term sheets for the sale of sulphate of potash from the Lake Way project in Australia.

The term sheets were signed with Unifert for distribution in the Middle East and Africa, Indagro for North America and Europe and Fertisur for South America.

They represented a combined volume commitment of up to 170k tonnes per annum.

Discussions were substantially advanced with an additional fertiliser group for sale of a material quantity of production from Lake Way, the company added.

'We are delighted to have finalised these offtakes for the sale and distribution of premium SOP product that will be produced at our Lake Way project,' chief executive Tony Swiericzuk said.

'Binding agreements with industry leaders, Unifert, Indagro and Fertisur support SO4's marketing strategy of targeting geographical markets with strong growth in crops that benefit most from SOP fertilisers.'

'SO4 continues to progress discussions with other leading fertiliser companies for the sale of our remaining SOP production.'

At 8:28am: (LON:SO4) Salt Lake Potash Limited share price was +1p at 40.5p

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