Dampier Salt Limited announces the A$375 million ($251 million) sale of its Lake MacLeod salt and gypsum operation in Western Australia to Leichhardt Industrials Group. The deal, subject to certain conditions, aims to enhance Dampier Salt's operational focus while providing job stability for the 130-strong Lake MacLeod workforce. The completion is expected by year-end.
Dampier Salt Limited has finalized a sales agreement with Leichhardt Industrials Group for the Lake MacLeod salt and gypsum operation in Western Australia. Valued at A$375 million ($251 million), the sale prioritizes Dampier Salt's operational efficiencies in its remaining Pilbara sites. Richard Cohen, Rio Tinto's Managing Director, emphasizes safety and continuity until completion.
Lake MacLeod, situated 70 kilometers north of Carnarvon, contributes ~1.5 Mtpa salt and ~1 Mtpa gypsum, accompanied by a deepwater port at Cape Cuvier. The sale ensures job retention for the existing 130 employees, marking a commitment from Leichhardt to maximize the operation's potential.
Dampier Salt, a Rio Tinto joint venture, underlines its dedication to retaining other assets within the business. The completion, contingent on meeting commercial and regulatory conditions, is anticipated by the year's end.
The sale of Lake MacLeod by Dampier Salt to Leichhardt Industrials Group at A$375 million ($251 million) signifies a strategic move to streamline operational focus for the seller. With an emphasis on safety and job stability for the existing workforce, the completion of this deal by year-end aligns with Dampier Salt's commitment to operational efficiency in its remaining Pilbara sites. Leichhardt's commitment to retaining employees ensures a smooth transition, marking a positive step forward for both companies.