Centrex (ASX:CXM) has completed a shipment of 21,992 tonnes of phosphate from the Ardmore Rock Phosphate Mine in Queensland to an existing customer.
The loading occurred from 25-28 October, while the vessel departed the Port of Townsville on 29 October.
Centrex, which has a market capitalisation of $31.18 million, says the next scheduled shipment of 25,000 tonnes is anticipated for loading in the last week of November.
The Ardmore Phosphate Rock Project lies south of Mount Isa in North West Queensland. It is considered to be one of the few remaining undeveloped “high-grade” phosphate rock deposits in the world.
Ardmore’s current reserve is 10.1 million tonnes at 30.2% phosphorus pentoxide, which is contained within the existing resource of 16.2 million tonnes.
Phosphate is the natural source of phosphorus, which is used in many everyday products. It is also considered an essential ingredient in all fertilisers.
According to the Columbia Climate School, 90% of the world’s mined phosphate rock is used in agriculture and food production, mostly as fertiliser.
Centrex says Australia and New Zealand are reliant on phosphate rock imports, mainly from North Africa, for their production of single superphosphate.
The company owns the Ardmore Phosphate and Oxley Potash projects in Queensland and Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Centrex
