Fertoz signs JV to import fertilisers to Oz
PERTH (miningweekly.com) – Junior phosphate developer Fertoz has formed a joint venture (JV) with Vast Resources to import and distribute a speciality phosphate product from Asia into Australia and New Zealand.
The JV, which would be 51% owned by Fertoz and 49% held by Vast, would be known as Fert-Ag, and was in the process of finalising Australian and New Zealand distribution rights for a fused calcium magnesium phosphate.
The speciality product would be competitively priced with standard phosphate fertilisers, Fertoz said on Thursday.
Company MD Les Szonyi told shareholders that the JV would require no capital investment from Fertoz, and fit with the company’s business strategy to grow through the development of cash generating fertiliser projects.
“Vast Resources brings a strong technical team to the JV to grow the business in Australia and New Zealand, enabling Fertoz to continue to focus on the growth of North American sales of phosphate rock from its Wapiti and Ferni projects, in British Columbia, while generating cash from the sale of fertiliser products in Australia to organic and nonorganic farmers.”
Fert-Ag was expected to sell some 4 000 t of product during the first 12 months of operation, generating a small profit. The JV’s profit distribution would be weighted towards Fertoz until profits exceeded A$1-million a year, at which point the distribution would favour Vast Resources until cumulative profits were equal for both parties.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation