Agrimin Limited (ASX: AMN) ('Agrimin' or 'the Company') has signed a Binding Offtake Agreement with Sinochem Fertilizer Macao Limited for the supply of 150,000tpa of SOP produced from the Mackay Potash Project for sale and distribution in China.

Sinochem Fertilizer Macao is a wholly owned subsidiary of Sinofert Holdings Limited ('Sinofert'), which is listed on the Hong Kong Stock Exchange (HKEX: 00297) and whose controlling shareholder is China National Chemical Corporation Limited, a major Chinese State-Owned Enterprise. Sinofert is one of China's largest crop nutrition companies and plays a pivotal role with global potash suppliers to ensure the country's potash supply.

China is the world's largest SOP market and currently accounts for more than half of all global SOP demand.

Mark Savich, CEO of Agrimin said: 'Sinochem Fertilizer Macao is a Tier 1 offtake partner and we welcome this long-term relationship with China's main importer of potash to create an important supply channel for Agrimin's SOP into the world's largest SOP market.

'This large tonnage, long-term supply deal with Sinochem Fertilizer Macao is testament to the quality and scale of the Mackay Potash Project. It is also further evidence of the considerable interest in the environmental and organic credentials of Agrimin's SOP product.

'We are at an advanced stage of negotiations with other major fertiliser companies in different regions and we expect to announce further developments in the near term to underpin project financing.'

Contact:

Mark Savich

Tel: +61 8 9389 5363

Email: msavich@agrimin.com.au

(C) 2021 Electronic News Publishing, source ENP Newswire