Centrex Metals Signs Phosphate Trial Shipment Contract

Centrex Metals (ASX:CXM) has signed its first contract with a major fertilizer manufacturer for a 5,000-wet-tonne trial shipment of phosphate rock concentrate.

The rock concentrate will come from the company’s Ardmore project in Northwest Queensland, with the trial shipment to be sold at market pricing linked to equivalent quality CFR benchmarks.

Highlights from the press release are as follows:

• The customer previously trialed 400 wet tonnes of run of mine ore for the production of single superphosphate, and will now trial a larger quantity of higher quality concentrate with a view to potential longer term offtake

• CDE Global are currently fabricating a 70tph modular start-up wet processing plant for Ardmore that is readily upgradable for full-scale operations

• The start-up operation is targeted to produce circa 30,000 wet tonnes of concentrate to provide a number of priority customers with trial shipments in mid-2019

• Trial shipments will support long-term offtake agreements to underpin project financing, targeted for late 2019 for the full-scale operation designed at 800,000 wet tonnes per annum.

Click here for the full press release.