Chatham Rock Phosphate Limited (NZP and Chatham) has been granted an exploration permit by the Queensland Department of Resources for an area of 196 square kilometres south of the company's current Korella phosphate and rare earths mining lease.
The area is highly prospective for both rock phosphates and rare earths and is expected to attract major players in the rare earths industry as potential joint venture partners.
This is the third step in the company's strategy to build an international phosphate mining and trading house.
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