Hydrogeological and dewatering drilling business Pentium Hydro has secured a bore-field drilling contract from Australian Potash Limited (ASX: APC) for the development of the Lake Wells Sulphate of Potash Project (LSOP) near Laverton in Western Australia.
APC, which holds a 100% interest in LSOP, is currently finalising pre-development plans for commencement of construction, with first production anticipated in mid-2023.
The 13-month contact will see Pentium Hydro provide drilling, installation and development services on more than 90 brine bores at the project, which were identified in Australian Potash’s recently completed FEED program.
Australian Potash Managing Director and CEO, Matt Shackleton, said: “Following the release of the FEED Summary results we are focused on maintaining the momentum towards development.
“Securing drill rigs in the current climate is an important step towards us achieving our mid-2023 targeted production start date.”