Verdant Minerals signs offtake deal for Ammaroo Phosphate Project
To supply up to 350,000 tonnes per annum of phosphate rock concentrate.
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Potential source of phosphate for the growing markets of Asia
Verdant Minerals Ltd (
ASX:VRM) and Wilson International Trading have signed a non-binding memorandum of understanding (MOU) regarding future offtake from the Ammaroo Phosphate Project.
The offtake deal is for up to 350,000 tonnes per annum of phosphate rock concentrate, or other phosphate products, that may be produced at the Ammaroo project in the Northern Territory.
READ: Verdant Minerals making steady progress at Ammaroo Phosphate Project
Verdant managing director Chris Tziolis said: “The establishment of an offtake MOU for supply to a significant Indian fertiliser manufacturer, Greenstar Fertilisers through their procurement partner, is an important step in the process of establishing firm markets for Ammaroo phosphate rock.”
Potential source of phosphate supply to the growing markets of Asia
Wilson International is aiming to procure up to 1 million tonnes per annum of phosphate rock for Greenstar Fertilisers, one of India’s leading manufacturers and marketers of fertilisers.
The purpose of the MOU is to formalise ongoing information flow and engagement regarding the progression of the Ammaroo Phosphate Project.
Wilson International sees Northern Australia and its undeveloped phosphate resources as a potential future source of additional phosphate supply to the growing markets of Asia.
Bankable feasibility study progressing
Tziolis said: “In conjunction with ongoing work to definitively establish the project’s economic feasibility and to obtain a license to operate, product analysis and discussions also continue with a number of other buyers of phosphate rock in the Asia Pacific region with a view of working towards other offtake MOUs and binding agreements.”
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