Chatham Rock comments on strong phosphate prices

Chatham Rock Phosphate Limited has noted with interest the continuing strong market prices of rock phosphate, despite declining nitrogen and potash market prices.

This is due to complications arising from financial payment restrictions and transportation insurance premiums impeding the movement of phosphate fertilizer imports from Russia, and Morocco increasing its production to take advantage of the gap.

Chatham's rock phosphate reserves, located in Korella (Queensland), Makatea (French Polynesia) and on the Chatham Rise, are ultra-low in cadmium and expected to be able to sustain forecast production levels of four million tonnes per annum for decades.