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Centrex Metals plans to develop its Ardmore phosphate rock project in North West Queensland, targeting 800,000 tonnes per year. Australia and New Zealand import about one million tonnes of phosphate rock annually, mostly from Morocco, and shipments have been delayed by legal disputes.
A June MOU with India's GSFC covers potential export of 40% of output.
A domestic Australian phosphate source would reduce dependence on Moroccan supply over time, which is bearish for import-linked phosphate prices in the long run. Production is still years away, so the near-term effect is negligible.
miningreview.com.auMining EditorAug 7, 2018Not 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.
