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Tag: Phosphate Rock

Daewoo to build phosphoric acid plant

Daewoo Engineering & Construction has signed a $700 million framework agreement to build a fertilizer plant in Turkmenistan. The agreement was signed in Seoul with Turkmenistan's state-owned chemical firm, Turkmenhimiya, according to the Turkmen Ministry of Trade, Industry and Energy, noting the Korean firm was named the preferred bidder for the project in October. The project aims to construct a fertilizer plant that will extract phosphoric acid from phosphate rocks and process the substance into 300,000 t/a of annually in eastern Turkmenistan by 2029.

Ammaroo phosphate project secures key mineral leases

Verdant Minerals says it has been granted two key productive mineral leases for its Ammaroo Phosphate Project by the Northern Territory government. The company says that this significant milestone advances one of the world's largest undeveloped phosphate resources, located about 220km southeast of Tennant Creek. Acting Chief Minister and Minister for Mining and Energy, Gerard Maley, stated, “This is a significant milestone in progressing a world-class resource project that will support jobs, drive investment, and strengthen the NT’s position as a leader in resource development.”

Cabinet aims to boost phosphate production and processing

The Tunisian cabinet has met to review its future programme for phosphate production, transport, and processing for the 2025-2030 period, as well as the current situation of the Tunisian Chemical Group and its work plan for the same period, according to a government statement. The prime minister stressed the need to develop phosphate production as a national resource and a cornerstone of the national economy that must regain its role and position in supporting state revenues and wealth creation, including increasing production capacity, processing, and exports, while investing in modern technology to enhance productivity, exploring new export markets, and prioritising environmental considerations.

Investment to boost phosphate project

Avenira has secured an A$7.56 million strategic investment from majority shareholder Hebang Biotechnology to progress its Wonarah phosphate project in Northern Territory. The investment, in which Hebang will acquire 1.08 billion shares priced at A$0.007 each, will boost its equity holding in Avenira to 49%. Hebang has also agreed to provide Avenira with an unsecured drawdown loan facility to be repaid on completion of the placement or after the date of the first drawdown.

Major phosphate expansion announced

Chemical Industries of Senegal (ICS) has launched two projects to increase phosphate fertilizer production in the country. At a company event, new managing director Mama Sougoufara said that between 2014 and 2023, ICS has expanded production to 2 million t/a of phosphate rock, 600,000 t/a of phosphoric acid, and 250,000 t/a of phosphate fertilizer. The new expansions, with a price tag put at $475 million, include a plant at Mbao to increase fertilizer output from 250,000 t/a to 600,000 t/a, as well as a new phosphate rock processing plant, increasing output by 300,000 t/a. The company has seen its financial situation improve in recent years thanks to its takeover by the Indorama Group, though the Senegalese government retains a 15% stake.