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13 Jul 2020 07:00
13 July 2020
| AIM/ASX Code: SO4
|
SALT LAKE POTASH LIMITED |
GREEN LABEL CERTIFICATION
Salt Lake Potash Limited (SO4 or the Company) is pleased to announce it has been granted 'Green' label certification for debt issued to develop its Lake Way Project. The 'Green' label provides assurance to all stakeholders of the positive environmental contribution of fertiliser production at SO4's Lake Way Project.
HIGHLIGHTS
§ The 'Green' loan label is as set out by the LMA and APLMA green loan principles1. The eligibility was assessed by DNV GL.
§ 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 'Green' loan label confirms the positive environmental aspects of the Lake Way Project for the Company's debt partners, as well as all other stakeholders including the local community, offtakers and suppliers.
§ The designation also covers associated governance procedures relating to correct management of proceeds and reporting.
§ 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 20182.
TONY SWIERICZUK, Chief Executive Officer
"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."
1 LMA - Loan Market Association, APLMA - Asia Pacific Loan Market Association
2 www.gtlaw.com.au
For further information or to view a full version of this announcement, please visit https://www.so4.com.au/asx-announcements/ or contact:
Tony Swiericzuk / Richard Knights | Salt Lake Potash Limited | Tel: +61 8 6559 5800 |
Colin Aaronson / Richard Tonthat / Seamus Fricker | Grant Thornton UK LLP (Nominated Adviser) | Tel: +44 (0) 20 7383 5100 |
Derrick Lee / Peter Lynch | Cenkos Securities plc (Joint Broker) | Tel: +44 (0) 131 220 6939 |
Rupert Fane / Ernest Bell | Hannam & Partners (Joint Broker) | Tel: +44 (0) 20 7907 8500 |
This announcement has been authorised for release by the cro, Mr Tony Swiericzuk.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
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