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    Tag: Phosphate Rock

    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.