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Centrex is advancing its Ardmore phosphate rock project near Mt Isa, Queensland, which could supply Australia's single superphosphate producers from a domestic source. Australia and New Zealand import about one million tonnes of phosphate rock a year, and the Christmas Island mainstay is nearing depletion.
Recent export shipments to New Zealand and South Africa have been held up at foreign ports amid western Sahara legal challenges.
Global phosphate is oversupplied, so cheap supply keeps prices low, but a disrupted import chain could push Australian buyers toward costlier SSP imports. A domestic mine would reduce that import risk over time.
farmweekly.com.auMike FoleySep 22, 2017Not 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.
