PhosCo Ltd (ASX:PHO) has a 50.99% interest in the Chaketma Phosphate Project, a potential large-scale, world-class phosphate development asset containing a JORC compliant Inferred Resource of 130Mt @ 20.5% P₂O₅. The resource is defined from drilling at only two of the project’s six prospects. A significant amount of drilling has been completed since this Resource was defined and a Mineral Resource Upgrade is imminent which aims to enhance the confidence and scale of the Resource.
PhosCo aims to develop Chaketma and become a leading producer of sustainable fertiliser by employing local people and attracting international funding.
Chaketma is located in Tunisia, the northern most country of Africa, making it close to key export markets with Europe right on its doorstep. The capital of Tunis is 210km away by sealed road and the nearest railhead is just 35km away offering a connection to two ports. Gas and power are nearby, and various research organisations have been engaged to consider wind, solar and treatment routes as a part of the company’s ESG strategy. PhosCo’s ultimate aim is to reduce water consumption, use zero coal, and produce zero phosphogypsum as a waste product.
Lead by a management team with vast experience in advancing & backing resource projects globally, PhosCo is well positioned to capitalise on the soaring demand for rock phosphate. Tightening market conditions in the last 12 months have propelled the price of rock phosphate from US$80/t last year to over US$170/t today, providing an exciting backdrop for the Company as technical work gathers momentum in-country.
Robin Widdup | Chairman
Robin has over 40 years of mining industry and equity market experience. He is the founder and director of Lion Selection Group Limited, one of PhosCo’s largest shareholders. Robin has been involved as a director and with Lion in multiple mine developments around Africa, Asia and Australia over the last 25 years.
Simon Eley | Managing Director
Simon has vast experience in the resources sector in both Australia and Africa. He was the founding director of Egan Street Resources and has transactional & operational experience in resources projects globally. He was a member of the executive management team in Mauritania working on Woodside’s first international oil and gas project.
Donald Thomson | Country Manager
Donald is a geologist with 35 years experience, 20 of them in senior management roles for Newcrest, Johnsons Well Mining, and Legend Mining. In 2011-2012, he worked as Exploration Manager for PhosCo and was instrumental in the initial drill program which highlighted the potential of Chaketma.
Craig Smyth | Chief Financial Officer
Craig has over 25 years of accounting experience in mining investment and finance. Craig’s financial background includes Coopers & Lybrand, Credit Suisse First Boston (London) and ANZ Investment Bank. Craig is a member of the Institute of Chartered Accountants of Australia and New Zealand.