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Australian industry figures say the Georgina Basin holds billions of tonnes of phosphate rock, and several companies are looking to start mines. Most fertiliser used by Australian farmers is currently imported, and the speakers at the Darwin conference argued the timing is right given soaring global prices.
New Australian phosphate supply would be a long-term development that could ease import dependence, but it has no near-term effect on global phosphate prices.
abc.net.auMatt BrannJun 11, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
