Vysarn wins $13m potash contract

ASX-listed Vysarn’s drilling business has secured work on a $208 million potash development near Laverton.

The contract was awarded to Pentium Hydro, which will drill, install and develop brine (salt) bores and freshwater bores at the Lake Wells sulphate of potash (SOP) project, owned by Australian Potash.

Lake Wells is one of six major SOP developments in Western Australia, with production and sales expected to begin in mid-2023.

Work under the contract is estimated to be worth $13 million.

Pentium’s services include hydrogeological investigation drilling, as well as dual rotary and conventional, geothermal and water well drilling.

Vysarn had acquired the business from Perenti (formerly Ausdrill) in 2019.

Shares in Vysarn closed up nearly 10 per cent on Thursday to trade at 12 cents.