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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	POZ
Latest Price:	0.06 (1.67% )
52-week High:	0.20
52-week Low:	0.05
Market Cap:	6.70M

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Phosphate Australia Full Phosphate Australia profile here

Phosphate Australia (ASX: POZ) is targeting the production and sale of 500,000 to 1 million tonnes per annum of premium grade rock phosphate with low contaminants into the Asian market.

Highland Plains, the company's leading phasphate project in the Northern Territory, has an Inferred Resource of 56 million tonnes at 16% P2O5.

Phosphate Australia in discussions with partners for Highland Plains Project

Wednesday, May 19, 2010 by Jeff Coote

Phosphate Australia Limited (ASX: POZ) is in discussions with third parties for the development of the Highland Plains Rock Phosphate Project in the Northern Territory, the company said today.

This is due to more favourable conditions in the global agrichemicals sector.

POZ is developing the Highland Plains, which has a JORC compliant Inferred phosphate resource of 56 Mt at 16% P2O5.

The project is 100% owned by POZ and the company is currently targeting the production and sale of up to 3 million tonnes per annum of beneficiated rock phosphate from Highland Plains,

Output would be transported by slurry pipeline to a barging facility in the Gulf of Carpentaria for export to key markets.

Jim Richards, chairman, said the company "now believes it is appropriate to institute a formal process to evaluate development and funding options for Highland Plains."

As a result, POZ has announced the appointment of Australian corporate adviser, Gresham Advisory Partners Limited to assist the company in this process.

POZ, with the assistance of Gresham, said it will evaluate a number of approaches for the development of Highland Plains, including structures that would enable a partnering approach to be taken to the development and ownership of the proposed slurry pipeline, given its potential as a key item of regional infrastructure.

The company stated that its strategic partner process remains at an early stage and there can be no assurance that a binding proposal will emerge.

POZ is focussed on evaluating and developing the Highland Plains project and adding value to its other tenement interests in the region.

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