Key points
- Chatham Rock Phosphate’s subsidiary Avenir Makatea, trading as Korella Terminals, commenced the scoping study.
- The proposed stand-alone facility would export five million tonnes per year of phosphate and fertilizer from the Port of Townsville.
- The study runs alongside the already announced scoping study for the one-million-tonne-per-year Korella South export mine.
- Results of the scoping study are expected in July 2022, and the project could attract Queensland and federal government funding.
Chatham Rock Phosphate Ltd.’s subsidiary, Avenir Makatea Pty., trading as Korella Terminals, has commenced a scoping study into a stand-alone five-million-tonne-per-year phosphate/fertilizer export facility in the Port of Townsville.
This study is being undertaken by an assembled team of well-seasoned industry specialists who bring together years of experience in logistics, major capital work construction, port operations/construction and financing of new major port/rail facilities for bulk commodities.
As the Port of Townsville is the export port for all of the minerals, including phosphate and fertilizers originating in northwest and north Queensland, the need for a dedicated phosphate/fertilizer terminal has been recognized for a considerable time.
With the emerging changes in the world supply chain for fertilizers and phosphates, the low cadmium phosphate from the Georgina basin in northwest Queensland has the potential to fill the gap for low cadmium phosphate in Europe, now no longer able to be sourced from Russia.
The scoping study for the Korella terminal runs in tandem with the already announced scoping study for the one-million-tonne-per-year phosphate export mine based on the company’s Korella South project.
This long-needed export facility project also has the potential to attract Queensland and federal government funding. The northern Australian infrastructure facility is one potential source.
The results of the scoping study are to be available in July, 2022.
Chatham looks forward to keeping shareholders updated on the exciting developments associated with Korella.
