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Avenira signs 1st first off-take deals for phosphate from Baobab project

Avenira Ltd.said July 21 that its Senegal-based subsidiary, Gadde Bissik Phosphates OperationsSUARL, has inked its first off-take deals with international fertilizer companiesfor the supply of rock phosphate from its Baobab project in Senegal, which is nearing production.

Under the three-year agreements, the buyers will initially purchasebetween 240,000 tonnes and 360,000 tonnes per annum of rock phosphate from the project,with the term extendable at the option of both parties.

This represents more than half of anticipated annual output fromthe project.

Subject to global market prices and set for semiannual periods,the product will be delivered from the port of Dakar.

The company is advancing other off-take agreements to cover thebalance of Baobab's planned annual output.