Proactive Investors - Run By Investors For Investors

Avenira Ltd secures first export offtake for Senegal rock phosphate

Avenira Ltd secures first export offtake for Senegal rock phosphate

Avenira Ltd (ASX:AEV) has signed the first set of supply agreements with two international fertiliser companies for exporting rock phosphate from the Baobab Phosphate Project in Senegal.

Avenira’s 80% owned Baobab project contains an indicated resource of 12.6 million tonnes at 21% P2O5 at 15% P2O5 cut-off grade.

The development of the project is well advanced with mining activities currently underway. The production of first rock phosphate is scheduled during the second half of 2016.

Under the three-year offtake agreements with Actatrade SA and Getax Agrifert DMCC, the buyers will initially purchase between 240,000 and 360,000 metric tonnes per annum of rock phosphate.

This represents more than half of the anticipated annual production.

The product will be delivered from the port of Dakar, with offtake pricing to be based on the global market price for equivalent rock phosphate product and set for semi-annual periods.

By securing these agreements, Avenira has demonstrated the market’s confidence in the Baobab Project’s ability to produce and deliver a desirable product.

Avenira is currently engaged with a number of other parties on further offtake arrangements set to cover the balance of planned annual production.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full AEV profile View Profile

Avenira Ltd Timeline

Related Articles

1534333583_Thunderstruck---Bryce-Bradley.jpg
August 15 2018
Thunderstruck has an attractive and diverse portfolio of assets in Fiji
Carmel Sapphire
January 29 2019
The Israel-focused exploration firm says its main strategy is to focus on exploration targets that it deems to have the highest upside that can be brought to production at relatively low cost
Ilmenite ore
January 02 2019
The upgraded resource, which now stands at 101mln tonnes at 7.1% ilmenite, comes as the group prepares to publish a pre-feasibility study in the first quarter of 2019

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use