Phosphate boom prompts more exploration
Project Updates - April 7, 2008
Reports suggest that the soaring price of rock phosphate has prompted an Australian company to search for phosphate off the Namibian coast.
Phosphate prices have risen by 400 per cent in the last year to US$200 a tonne.
Bonaparte Diamond company repotedly now plans to dredge marine phosphate from the sea floor.
Chief executive Mike Woodbourne is confident it will prove to be a good alternative to the rock phosphate used in fertilisers. "It has the enrichment of the chemical formula PT05, it's the same as what you find in rock phosphate."
"It's in the early stage of study for us and we'll be looking very carefully at the beneficiation process required, but it is a naturally-occurring organic phosphate."
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