ASX-listed Fertoz has announced a joint venture with Montana-based Excel Industries to develop a fertiliser pelleting plant in the US.
Fertoz will work with Excel and its affiliate Range Cubes Mill, based in Kinsey, Montana, to create a fertiliser pellet product containing nitrogen, phosphorous and potassium (NPK) for the organic and regenerative agriculture market in North America.
Construction on the plant and equipment is under way and Fertoz expects to begin first sales of the product late this year. Excel already produces organic NPK fertiliser chicken litter compost and is noted to have seen the value of including Fertoz rock phosphate among other elements.
Fertoz has invested $1.28-million to develop the plant, which will be capable of producing 80 000 t of pellets yearly.
The plant is well located in relation to key inputs as well as organic markets in the US and Canada.
Meanwhile, Fertoz has also secured a new tenement in Canada after discovering high-grade rock phosphate in the Fernie region of British Columbia.