PERTH (miningweekly.com) – ASX-listed Centrex has inked another offtake agreement at its Ardmore phosphate project, in Queensland, this time with New Zealand-based Ballance Agri Nutrients.
Under the terms of the offtake agreement, Ballance will purchase 30 000 t of phosphate in the first year of a 2.75-year offtake agreement, with the second- and third-year allocations to be mutually agreed upon.
The offtake agreement with Ballance is Centrex’s second offtake agreement to underpin phosphate sales from the Ardmore project, and 20% of Ardmore’s production has been allocated towards the Ballance offtake agreement.
“The signing of this offtake agreement with Ballance is another significant milestone for Centrex and the execution of our offtake strategy. We also see this as a stepping stone towards a long-term relationship with Ballance and supplying our product into the lucrative New Zealand agricultural market,” said Centrex MD Robert Mencel.
The offtake agreement with Ballance is expected to start in April this year.