Phillips River Mining Limited (ASX: PRH) has applied to relist on ASX with valuable phosphate production assets.
Long-term demand for the Phillips River phosphate will come from both the immediate Chilean market, which imports 130,000tpa, and also the Argentine and Brazilian markets, which form the basis of the South American food basin.
Brazil accounts for 57% of all Latin American fertiliser consumption with more than 50% of fertiliser consumed in Brazil being imported.
The global population is projected to reach 7.5 billion by 2020 and 9.2 billion by 2050 and this will drive demand for fertiliser products to help increase food-production yields. Phosphate is a key ingredient of this demand.
Our key objective is to undertake immediate initial phosphate production of 50,000tpa expanding to 100,000tpa and selling into the existing Chilean agribusiness market with existing production plant and an experienced operational mining team.
Through the attached Phillips River Mining Limited Prospectus Rights Issue you have the opportunity to acquire 3 shares for each 2 shares currently held.
To find out more about about this valuable investment in a phosphate production asset click on the link below to access the prospectus.