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Centrex negotiating 10-year phosphate rock off-take from Ardmore project

Centrex Metals Ltd. agreed to negotiate a 10-year supply of about 300,000 tonnes of phosphate rock per year from its Ardmore phosphate rock project in North West Queensland, Australia.

The company said May 18 that it signed a nonbinding memorandum of understanding with Gujarat State Fertilisers & Chemicals Ltd. to negotiate the supply deal.

Centrex will provide samples to the Indian fertilizer and chemical manufacturer for trial at its new large-scale phosphoric acid plant. The supply will cover about 40% of the proposed output from the Ardmore project.

A mid-January scoping study for Ardmore estimated a pretax net present value, discounted at 10%, of A$124 million to A$129 million, an internal rate of return of 39% to 42% and a three-year payback period.