GCISalt Lake Potash granted ‘green’ label certification for Lake Way project
has been granted 'Green' label certification for debt issued to develop its Lake Way Project, confirming the positive environmental contribution of fertiliser production at the project in Western Australia.
The 'Green' loan label is set out by the Loan Market Association (“LMA”) and Asia Pacific Loan Market Association (“APLMA”) green loan principles.
The LMA label is a positive indication to the dual-listed mineral exploration group’s debt partners, as well as all other stakeholders including the local community, off takers and suppliers.
The designation also covers associated governance procedures relating to correct management of proceeds and reporting, this morning’s statement detailed.
"We are delighted to have received the 'Green' label designation for the Lake Way Project, confirming the positive environmental contribution our project will make towards reducing emissions from the global fertiliser industry,” said Tony Swiericzuk, CEO of Salt Lake Potash.
Shares in Salt Lake Potash closed at 33.5 on Friday afternoon.
As part of the review, Wood Canada Limited conducted a technical assessment of greenhouse gas emissions of SOP production at Lake Way, relative to Mannheim SOP production in other locations.
The assessment concluded that a Mannheim process plant of comparable capacity would have 60% higher CO2 emissions than the Lake Way Project, the group said.
Meanwhile, the company also cited how investor interest in green investment has grown rapidly over the past decade, with estimates showing the global volume of green debt has grown from less than A$5 billion in 2010 to more than A$150 billion in 2018.
Salt Lake Potash’s long-term plan at Lake Way is to develop an integrated Sulphate of Potash operation, producing from several of its nine salt lakes.
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