9 Phosphate Stocks to Watch

Market cap: C$75.77 million

Arianne Phosphate is moving forward at its development-stage Lac a Paul phosphate project in Quebec. The company has secured initial offtake and marketing deals, and the project is fully permitted and construction-ready; it is expected to create 1,000 jobs during operation and to contribute C$12 billion to the region’s economy.

In early 2022, Arianne Phosphate launched a research program in collaboration with the Environmental and Biotechnology Research Group of Cegep Riviere-de-Loup with the goal of developing a new breed of fertilizers using organic waste and the company’s phosphate concentrate. In addition to agriculture, Arianne Phosphate is exploring the possibility of supplying high-quality materials to the energy sector, including for use in hydrogen fuel cells and lithium-iron-phosphate (LFP) batteries.

In 2023's first quarter, the company received a detailed report confirming that its high-purity phosphate concentrate can be used in the production of LFP batteries.

Market cap: AU$17.44 million

Avenira owns the Wonarah phosphate project in Australia’s Northern Territory. The site is considered one of the largest-known phosphate deposits in Australia, with measured resources of 64.9 million MT at 22.4 percent phosphorous pentoxide, indicated resources of 133 million MT at 21.1 percent phosphorous pentoxide and inferred resources of 352 million MT at 21 percent phosphorous pentoxide.

Avenira’s Wonarah project has the potential to supply high-grade phosphorous to the agriculture sector. Offtake negotiations are progressing with regional fertilizer producers. Avenira is another phosphate company looking to supply the material to the LFP battery market in addition to the fertilizer industry. In early March, the company released a scoping study for an LFP cathode manufacturing project.

Market cap: AU$98.2 million

Centrex Metals holds the Ardmore phosphate rock project in Queensland, which it says is one of the world’s few remaining undeveloped high-grade phosphate rock deposits.

Ardmore has a JORC-compliant mineral reserve of 10.1 million MT at 30.2 percent phosphorous pentoxide that is contained within an existing mineral resource of 16.2 million MT. So far in the first half of 2023, Centrex has inked a number of important offtake and partnership agreements, including binding offtake deals with Ameropa Australia and Ballance Agri-Nutrients for the purchase of phosphate from Ardmore. It also set up a memorandum of understanding between Agriflex, its wholly owned subsidiary, and Neutrog Australia; together they will develop new organic and biological fertilizer products.

Market cap: C$10.67 million

Chatham Rock Phosphate is focused on building a 2 million MT per annum international phosphate-mining and trading house targeting low-cadmium, organic phosphate. Chatham intends to be a major supplier of direct-application phosphate to the New Zealand and global agricultural sectors.

The company's pipeline of prospective phosphate operations includes the fully permitted Korella phosphate and rare earths mine in Queensland, Australia. In March of this year, Chatham signed a lease for a 22 hectare site to establish the Korella phosphate distribution hub in Cloncurry. The hub will be an essential component of the company’s “pit-to-port logistics solution," which will address the challenge of transporting phosphate rock from Chatham's Korella North, Korella Central and Korella South mines to the Port of Townsville.

Market cap: AU$38.55 million

Fertoz markets and develops a range of organic fertilizer products in North America and Australia, and has two wholly owned rock phosphate projects in BC, Canada. Fertoz is currently working on mine permits and bulk sample applications at both its Wapiti and Fernie assets for 82,000 MT for extraction in the near term.

Through its products, Fertoz promotes sustainable agricultural practices that earn farmers carbon credits to offset emissions. The firm recently expanded its line of low-carbon and carbon-sequestering fertilizers and products.

Market cap: C$351.3 million

Itafos is a phosphate-based fertilizer and specialty products company with projects in Brazil, Peru, the US and Guinea-Bissau. Its Conda operation produces monoammonium phosphate, superphosphoric acid, merchant-grade phosphoric acid and specialty products, while its Arraias operation produces single superphosphate.

The vertically integrated company has five other phosphate-focused projects at various stages of exploration and development, including the high-grade Farim phosphate mine project located in Guinea-Bissau, and the vertically integrated high-grade Santana phosphate mine and fertilizer plant project in Brazil.

Market cap: AU$112.86 million

Phosphate exploration and development company Mimbos Resources is focused on building a nutrient supply and distribution business targeting the agricultural sector of the Middle Africa region. The company’s Cabinda phosphate fertilizer project is located in Angola.

Minbos holds a mining license for Cabinda, as well as a commercial site for its phosphate granulation plant in Angola. In early January, Minbos reached an important milestone with the signing of a private investment contract for Cabinda with Angola’s Agency for Private Investment and Promotion of Angolan Exports.

Market cap: US$14.32 billion

Mosaic is one of the world’s largest producers and marketers of concentrated phosphate and potash crop nutrients. It has various phosphate operations in Florida, Louisiana and South America.

This phosphate-mining stock has greatly benefited from higher phosphate prices as greater demand for agricultural commodities is driving demand for fertilizers globally.

Market cap: C$46.79 billion

Nutrien, Canada’s largest potash company, is the product of the 2016 merger between phosphate-mining giants Agrium and Potash Corporation of Saskatchewan. The company is one of the world's largest providers of crop fertilizers and services, with an agricultural retail network that services more than 500,000 grower accounts. In addition to its expansive portfolio of potash assets, Nutrien operates two large integrated phosphate-mining and processing facilities, and four regional upgrading plants in the US.