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PROJECT NOTES
PHOSPHATE EXPANSION
6 September 2010
Australia is a small player globally in phosphate, with production based on one major mine (Phosphate Hill) in Queensland and Christmas Island, in the Indian Ocean.
But two planned developments will expand Australia’s role in this field.
In Queensland, near Mount Isa, the company Legend International plans the mining of phosphate and its subsequent processing into fertilisers. The project is known as Paradise South.
Legend International, listed in the United States, is run by Joseph Gutnick, known in Australian mining for his near-ruin following the 1987 stock market crash and subsequent recovery through gold mining in Western Australia.
In the Northern Territory, the lower-profile company, Minemakers, also plans the mining of phosphate and subsequent processing into fertilisers (see Sample Reports).
Minemakers’ project, known as Wonarah, will include in the medium-term a 260-kilometre rail line from the minesite to Tennant Creek, to join with the rail line to Darwin.
Both projects will cost over $1 billion to develop fully.
There is optimism about the outlook for phosphate prices, given increasing demand from China, India and other developing countries.
Some 90% of the world’s reserves are held by Morocco + Western Sahara, China, South Africa, Jordan and the United States.