Sev.en Global Investments acquired SO4s Lake Way Project
Press Release (October 10, 2022)
Sev.en Global Investments (Sev.en) is pleased to announce the completion of the acquisition of Australia Salt Lake Potash Pty Ltd, the operating subsidiary of Salt Lake Potash (SO4) developing the flagship Lake Way potash project in Western Australia. The acquisition follows the administration and receivership process of SO4, where Sev.en reached a deal with SO4’s receivers and senior creditors on the purchase of SO4’s subsidiaries Australia Salt Lake Potash Pty Ltd and Piper Preston Pty Ltd.
The Lake Way project is currently in the final stage of its development with much of the required production infrastructure already in place. Mr Alan Svoboda, Chief Executive of Sev.en commented, “We continue to strengthen our market presence in Australia and are excited to enter one of its nascent commodity industries. With ever growing pressure to increase global agricultural yields, we see strong potential in the global mineral fertiliser market, especially in potash, and are excited to play our role in ensuring sufficient global supply of this vital commodity.”
Once finalised, the project is expected to produce up to 245 thousand tonnes of sulphate of potash per annum – making it the largest producer in Australia and Southeast Asia and positioning Sev.en among the leading global producers of sulphate of potash. Mr Svoboda added “With the additional capital required to finalise the project ramp-up, we plan to start producing in about a year’s time. This will not only benefit the project’s employees, local community and suppliers, but also consumers worldwide.”
Sev.en’s acquisition of the operating subsidiaries of SO4 is a natural fit with the firm’s strategy of providing long-term capital in challenging situations to businesses operating in sectors that are critical to the functioning of the modern economy.
Sev.en’s ongoing commitment to strengthen its Australian presence includes the recent appointment of Mr Mark Sykes as the Australia Country Manager. Mark Sykes will oversee Sev.en’s Australian portfolio of assets along with building a pipeline of projects that will build on Sev.en’s presence in the mining and power sectors. He has 30 years of experience in the natural resources and FMCG sectors. Mark has strong corporate experience including strategy, project management, optimisation of asset portfolios, mergers and acquisitions and technical engineering. He holds Mining Engineering degree from Curtin University and a Minerals Economic masters from Macquarie University in Australia.
Sev.en Global investments is a family office investment group from the Czech Republic that deploys long-term capital in growth, restructuring and special situations worldwide, primarily in the energy, mining and adjacent sectors. Sev.en’s portfolio includes metallurgical coal mining assets in the United States as well as power generation assets in the United Kingdom and Australia (through our interest in the Milmerran and Callide power stations in Queensland and recently announced acquisition of the Vales Point power station in New South Wales). For further information, please visit www.7GI.com.
Gabriela Sáričková Benešová
GSM: +420 725 327 758