Centrex gets offtake interest at Ardmore
PERTH (miningweekly.com) – ASX-listed junior Centrex Metals has signed a non-binding memorandum of understanding (MoU) for 300 000 t of phosphate rock offtake from its Ardmore project, in Queensland.
The MoU, with Gujarat State Fertilisers and Chemicals (GSFC), would see the two companies negotiate the terms of a ten-year offtake agreement, subject to the outcome of product testing.
“With such a large user as GSFC showing interest on a long-term basis in our proposed premium grade ultra-low cadmium product, signing the MoU with them is a key step in expediting production from Ardmore,” said Centrex MD and CEO Ben Hammond.
“The potential already to sell almost 40% of our proposed output to GSFC over the mine life, should give the market further confidence in what is a straightforward and simple mine development with a relatively low capital cost.”
A January scoping study for the Ardmore project estimated that the project would require a capital investment of between $55-million and $61-million, to produce 776 000 t of premium phosphate rock concentrate over a ten-year mine life.
A feasibility study on the project is due in mid-2018.
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