Media Coverage: Daily Company News - CRP initiates Korella South scoping study for one million tonnes per annum export phosphate mine

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Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company”) is pleased to announce that while awaiting finalisation of the purchase of the Korella Mine, Chatham Rock Phosphate Limited has commenced a scoping study for an export mine based on its adjacent Korella South exploration area.

This follows significant interest from North Asia based phosphate buyers for a high-grade phosphate rock supply sourced from Korella South. This, combined with the developing acute shortage of low cadmium phosphate in Europe and soaring international rock phosphate prices, has led to the decision to investigate the feasibility of a significant increase in production. This export focussed production and sale of phosphate from Korella South would run in parallel with projected domestic annual sales of 250,000 tonnes of rock phosphate from the Korella Mine. 

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Media Coverage: Grain Central - Qld phosphate projects a fillip for cropping, livestock

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AUSTRALIA’S reliance on imported rock phosphate looks set to reduce thanks to Centrex’s Ardmore project now coming on stream in north-west Queensland’s Georgina Basin, and Chatham Rock Phosphate’s nearby Korella project.

They will supplement product already coming from the region’s long-running Phosphate Hill mine, which is owned by Incitec Pivot Limited and produces DAP and MAP on site.

With global fertiliser supply chains already disrupted by COVID, and impacted further by sanctions against Russia, both developments are seen as timely for Australian farmers and graziers.

In addition, the Korella project is expected to reduce Australia’s dependence on China for dicalcium phosphate (DCP), an important source of phosphorus in cattle rations and supplements.

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

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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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Media Coverage: Superbcrew - Chatham Rock Phosphate Limited Private Placement

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Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company”) wishes to announce that the Company is proceeding with a non-brokered private placement (the “Placement”) of up to 10,000,000 units (the “Units”) at a price of CAD $0.17 per Unit (NZ$0.195) for gross proceeds of up to CAD $1,700,000 (NZD $1,900,000).

CRP shares have had strong investor support following recent announcements by the Company relating to the acquisition of the Korella mine, the application for an exploration permit and at Korella South, and the proposed establishment of a dicalcic phosphate manufacturing plant.

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