Queensland Potash Pty Ltd (QPPL) is a wholly-owned subsidiary of *AusPotash Corporation*, all of whose issued share capital has been acquired by UK-listed *Sirius Exploration Plc*. Adavale Holdings (Adavale) is also a subsidiary of Sirius Exploration Plc. The companies have been acquired to develop one of the largest known salt and potash deposits in Australia.

 

As the world’s population grows, the demand for potassium component fertilizers, such as potash, is rapidly increasing. Fertecon, the fertilizer economic market analysis and consultancy group, estimates that a new potash mine must begin production each year to keep up with this worldwide demand. Extensive data from past exploration and information on file with the Department of Energy indicates there is a substantial deposit of potash in the 600 square kilometre area covered by the Adavale and QPPL exploration licenses.

It has been estimated that the Pacific Rim region uses over two million tonnes of potash based fertiliser every year. Australia and New Zealand import the majority of their potash requirements and QPPL is in a position to benefit with this market in such close proximity to the proposed production facility.

 

In association with its partners, Sirius is also exploring the potential of storing and/or sequestering carbon dioxide underground on its properties – activity which could potentially happen both concurrently to and post the mining being completed.