Agrimin

What Agrimin does

Agrimin Limited is a Western Australian, ASX-listed (ASX:AMN) minerals development company focused on becoming a low-cost producer of Sulphate of Potash (SOP) fertiliser. Its flagship asset is the 100%-owned Mackay Potash Project on Lake Mackay in Western Australia, which contains what the company describes as the world's largest undeveloped brine-hosted SOP deposit with a 123 million tonne drainable mineral resource across a 3,500km2 project area. Agrimin's core technology extracts SOP-rich brine via shallow infiltration trenches across the salt lake surface, channels it through six pumping stations into a 30km2 nine-pond solar evaporation system that progressively crystallises raw potash salts, and converts the slurry to schoenite and then SOP via conversion crystallisation vessels and flotation separation. The company has integrated the entire value chain from mine through a 346km dedicated sealed haul road, a 50:50 Newhaul Bulk road haulage joint venture using a customised fleet of approximately 24 road trains, and dedicated Wyndham Port facilities capable of loading Ultramax vessels up to 62,000 DWT.

The business model is a B2B, long-term offtake-driven commodity producer targeting 450ktpa of SOP at steady state. Approximately 70% of planned production is already committed under long-term offtake agreements with major international fertiliser distributors including Sinofert, with primary end-markets in South and Southeast Asia. DFS economics assume a flat SOP price of US$500 per tonne FOB Wyndham Port and a total cash cost of US$159 per tonne, supporting a forecast US$145m annual EBITDA, 21% post-tax IRR and US$655m post-tax NPV8. The company has diversified into gold and nickel-copper exploration via the April 2026 acquisition of the Mount Squires Project (480km2 in the West Musgrave region) and holds minority strategic investments in Tali Resources (approximately 25%) and Niobium Holdings (40%, which in turn holds approximately 11% of WA1 Resources). Agrimin is pre-revenue, with first SOP production not yet commenced.

Name

Agrimin

Legal name

Agrimin Limited

Website

https://agrimin.com.au

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Agrinmin Limited (ASX:AMN) is a Western Australian pre-revenue minerals developer advancing the Mackay Potash Project, which targets 450ktpa of low-cost Sulphate of Potash fertiliser from the world's largest undeveloped brine-hosted SOP deposit, with offtake contracts in place covering 70% of planned production.

Ownership category

akta.pro rank

Product category

Specialty Fertilizers

NAICS

Phosphatic Fertilizer Manufacturing (325312)

SIC

Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532)

akta.pro primary industry

Potash Fertilizers (MOP/KCl, SOP/K2SO4, Potassium Nitrate) (AFABABAC)

akta.pro secondary industries

Fertilizer Raw Materials & Intermediates (Phosphate Rock, Sulfuric/Phosphoric Acid, Potash Ore/Brines) (AFABABAH), NPK/Compound & Blended Fertilizers (Granular Blends, Bulk Blending) (AFABABAD), Potash Mining (IMAKAGAB)

Keywords

• Potash fertilizer
• Sulphate of potash
• Brine mining
• Specialty fertilizer production
• Mineral extraction

Headquarters

HQ city

Nedlands

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Sulphate of Potash (SOP) sales: Pre-revenue mining development stage. Revenue will be generated from production and sale of SOP fertilizer through long-term offtake agreements with international buyers. Production capacity of 450ktpa at steady state. Product exported via Wyndham Port to global markets.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Agrimin is developing the Mackay Potash Project on Lake Mackay in Western Australia to produce 450ktpa of high-grade Sulphate of Potash (SOP) fertilizer from a brine-hosted salt lake deposit using evaporation ponds and a Schoenite conversion processing plant. The integrated operation includes brine extraction via shallow infiltration trenches, a 30km² evaporation pond system, processing to 52% K2O water-soluble SOP certified for organic food production, and export through a dedicated logistics chain (346km haul road and Wyndham Port facility). The company also holds the Mount Squires Project, a 480km² gold and nickel-copper exploration project in the West Musgrave region.

Product overview

Agrimin is a specialty fertiliser company focused on producing Sulphate of Potash (SOP) from its flagship Mackay Potash Project on Lake Mackay, Western Australia. The company operates a fully integrated value chain comprising the mine (brine extraction from shallow infiltration trenches), processing plant (producing 450ktpa of SOP grading 52% K2O), integrated logistics chain (346km sealed haul road, Newhaul Bulk joint venture trucking fleet, and Wyndham Port facility), and port operations. The company also holds the Mount Squires Project for gold exploration in the West Musgrave region.

Differentiator

Problem solved

Functional benefit

Products and services

• Mackay Potash Project A world-class sulphate of potash (SOP) brine deposit and integrated production facility located on Lake Mackay in Western Australia, designed to be the world's lowest-cost SOP producer with a post-tax NPV of US$655 million and IRR of 21%. Combines brine extraction trenches, 30km² evaporation ponds, Schoenite conversion plant, integrated haul road and Wyndham Port export.
• Sulphate of Potash (SOP) High-grade, water-soluble SOP fertilizer essential for crops such as fruits and vegetables, certified for organic food production, with one of the lowest carbon footprints of any macro-nutrient fertilizer and planned production capacity of 450ktpa. Sold to international fertilizer distributors under long-term offtake agreements.
• Mount Squires Project A gold exploration project located in the West Musgrave region of Western Australia, covering 480km² with the Handpump gold anomaly and potential for nickel-copper deposits.

Quantifiable outcome

• Post-tax IRR of 21% and NPV8 of US$655m
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Newhaul BulkcoreStrategic or Co-development Partner50:50 incorporated joint venture with experienced Western Australian bulk logistics operator Mr Craig Mitchell. Provides road haulage and road maintenance services for the Mackay Potash Project, bringing critical operational capability to Agrimin's integrated logistics chain.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Compass Minerals International: Produces SOP from solar evaporation ponds at the Great Salt Lake (and historically via Mannheim process) at similar scale, with comparable brine-hosted, integrated mine-to-port operations and SOP exposure to specialty crop markets. The closest direct analog to Agrimin's Lake Mackay asset and value proposition.

Broad incumbents

• ICL Group: Global specialty fertilizers and potash producer including SOP via the ICL Boulby (UK) operation; Agrimin's Executive Director Michael Hartley previously led hydrogeology on ICL's Danakil Potash project, making ICL a direct comparable on technology and project pedigree.
• K+S Aktiengesellschaft: European-headquartered potash and salt producer with SOP capability via the K+S Windsor (formerly Potash One) legacy and broader SOP portfolio. Compares as an established incumbent selling SOP into the same global specialty fertilizer markets Agrimin targets.
• SQM (Sociedad Química y Minera de Chile): Major global potassium-based producer with brine-hosted extraction operations in the Salar de Atacama. Overlaps with Agrimin on brine-hosted potash extraction methodology, downstream specialty plant nutrition, and global distribution scale.
• Nutrien Ltd: World's largest fertilizer producer with a substantial potash franchise (including SOP-grade products via specialty lines). Relevant as a benchmark for global SOP distribution, offtake relationships, and end-market exposure for Agrimin's planned output.
• The Mosaic Company: Major global crop nutrition company producing potash and phosphate fertilizers. Comparable as a broad incumbent potash producer with global distribution into the same specialty crop markets Agrimin is targeting from Wyndham Port.
• BHP Group Limited: Developed the Jansen potash project in Saskatchewan; not an SOP producer but a relevant comparable on the scale and capital-intensity profile of a greenfield potash development and the strategic value of entering global potash markets.

Regional players

• Arab Potash Company: Sole producer of potash in the Arab region, extracting from the Dead Sea via evaporation ponds — a directly comparable brine-hosted solar evaporation mining method to Agrimin's Lake Mackay operation, although serving MOP/KCl rather than SOP markets.

Emerging players

• Gensource Potash Corporation: Small-cap Canadian developer pursuing selective potash production via novel extraction methods. Comparable to Agrimin as a small, single-asset potash developer working to advance a project from DFS through financing and offtake phases.
• Western Resources Corp: TSX-listed developer of the Milestone potash project in Saskatchewan. Comparable as an emerging-stage, single-asset potash developer focused on bringing a defined resource into production, with overlapping project financing and offtake execution risks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@agriminlimited3633
• LinkedInlinkedin.com/company/agrimin-limitedau

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Agrimin