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Canadian company Itafos borrowed $15 million from CL Fertilizers at 15% annual interest to fund working capital and capital investments. Itafos also signed a multi-year phosphate rock supply agreement with Morocco's OCP Group, to be trucked to its Arraias site, where it has idled existing mines, tailings dam and beneficiation plant during site preparation.
The OCP supply deal means Itafos will buy phosphate rock rather than mine its own, a supply-side shift for phosphate rock and DAP feedstock with limited direct effect on feed-grade prices.
fertilizerdaily.comElena ShalashnikOct 1, 2019Not 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.
