The first contract, valued at A$85 million (US$58 million), encompasses engineering, procurement and construction (EPC) for the the process plant and non-process infrastructure.
The second agreement, for the provision of engineering, procurement and construction management services (EPCM), covers the same areas, and is valued at A$22 million (US$15 million).
Lake Way's capital budget sits at A$264 million.
The site's earthworks have been completed. Additionally, major vendor procurement is 77% complete and off-site fabrication activities are substantially progressed, the company confirmed.
Construction of a permanent 100-person village was completed in April, with an additional 160 rooms also now complete in preparation for the ramping up of construction.
With an expected 20-year mine life, Lake Way will produce about 245,000 tonnes annually of sulphate of potash (SOP).