- Centrex’s (CXM) subsidiary, Agriflex, executes an agreement for a trial shipment of beneficiated phosphate with Ameropa Australia
- The trial shipment consists of 5000 wet tonnes of beneficiated phosphate from the Ardmore Phosphate Rock Project in northwest Queensland
- It also includes a first right of refusal to purchase 10 per cent of the annual production from the Ardmore mine for the first three years
- The shipment will be loaded in Townsville, Queensland in November on a free on board basis with pricing to be finalised six weeks before loading
- Centrex is down 3.33 per cent with shares trading at 14.5 cents at 1:31 pm AEST
Centrex’s (CXM) subsidiary, Agriflex, has executed an agreement for a trial shipment of beneficiated phosphate with Ameropa Australia.
The trial shipment consists of 5000 wet tonnes of beneficiated phosphate from the Ardmore Phosphate Rock Project in northwest Queensland.
It also includes a first right of refusal to purchase 10 per cent of the annual production from the Ardmore mine for the first three years.
The first right is exercisable within 60 days of Agriflex providing notice of its estimate of available production over the next three years.
If Ameropa chooses not to exercise the first right within the 60 days, then it will expire and Ameropa will have no additional obligation to Agriflex under the agreement.
The shipment will be loaded in Townsville, Queensland in November on a free on board basis with pricing to be finalised six weeks before loading.
It is conditional on upgrades to the processing plant being completed to Agriflex’s satisfaction to sufficiently produce the product.
It is also conditional on receiving all necessary approvals for Centrex’s delivery obligations.
“Agriflex is proud to be entering into this agreement with Ameropa, a well respected and world-class company, at the same time helping to improve Australia’s supply security of phosphate rock,” Managing Director Robert Mencel said.
“With the signing of this agreement, the Ardmore project has 100 per cent of its first three years of production allocated to major customers in Australia, New Zealand and Asia.”
Centrex was down 3.33 per cent with shares trading at 14.5 cents at 1:31 pm AEST.