Avenira secures Wonarah phosphate offtake

Australian phosphate developer Avenira has signed a four-year agreement to supply 500,000 wet metric tonnes per year of phosphate rock from its proposed Wonarah project in the Northern Territory to Hebang Biotechnology (Hong Kong) Investment Limited.

The annual volume would account for more than 80% of Wonarah’s expected direct shipping ore production of about 600,000 tonnes per year, once commercial operations begin. The agreement remains conditional on product qualification, project and regulatory approvals, Darwin Port logistics arrangements, pricing finalisation, Hebang credit support and shareholder approval. These conditions must be satisfied or waived, where permitted, by 30 September 2027, unless the parties agree otherwise.

“Securing a long-term offtake framework for 500,000 tonnes per annum represents an important commercial milestone for Wonarah and provides a substantial pathway into the Mainland China market through Hebang’s established capabilities and distribution network,” Avenira deputy chairman Brett Clark said.

Wonarah gains China market pathway

Hebang has agreed to act as Avenira’s exclusive distributor in Mainland China, provided it purchases at least 90% of the available offtake quantity in each contract year.

The agreement allows Avenira to offer product outside Mainland China to third parties if it receives a superior bona fide offer. Hebang has the right to match such offers.

Hebang Biotechnology (Hong Kong) Investment is linked to Sichuan Hebang Biotechnology Corporation Limited, Avenira’s controlling shareholder. Sichuan Hebang is a China-based chemicals and agricultural-products group with activities including phosphate mining, fertilizer manufacturing and sales, crop-protection products and feed additives.

The agreement follows Hebang’s earlier financial support for the project. In May 2025, Avenira announced an A$7.56 million ($5.0 million) strategic investment by Hebang Biotechnology to advance Wonarah.

Pricing yet to be finalised

Pricing will use a market-referenced framework designed to reflect prevailing market conditions and the value of Wonarah phosphate rock. The parties have yet to finalise the minimum free-on-board netback, detailed product specifications and final pricing parameters.

Avenira said product qualification and industrial trials will support finalisation of the commercial product specification, quality-adjustment parameters and pricing.

“The agreement combines long-term market access with a market-referenced pricing framework, while preserving Avenira’s ability to capture stronger pricing opportunities where available,” Clark said.