Media Coverage: Farmers Weekly - Chatham Rock turns to on-land mining

Chatham Rock Phosphate is raising close to $2 million from a private placement of up to 10 million units for further work on two phosphate projects in French Polynesia and Queensland.

With its proposed undersea mining of the Chatham Rise stalled in the water, the listed company has turned to the Polynesian island of Makatea and to the Korella deposits in northwest Queensland, near Mt Isa.

The prospects of the company have lifted considerably with international phosphate prices at 10-year highs, chief executive officer and founder Chris Castle says.

Its share price on the NZX has risen by 10c or 80% from 12c to 22c since Christmas.

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