Chris Castle, CEO and Director of Chatham Rock Phosphate shares the company’s plans to mine Phosphate in New Zealand and send it to global fertilizer markets.
I started Chatham Rock in 2007. The company is based in New Zealand and our main and our main deposit is here. We have a rock phosphate deposit off the shore of New Zealand. It’s 23 million tons of rock phosphate on the seafloor. Our main focus is to mine that and send it into fertilizer markets around the world. There’s lots of rock phosphates around the world, but they are different and our one is what’s known as a reactive phosphate rock or RPR. A RPR is known for its environmental qualities. It’s much better in terms of run-off into waterways and our rock is also exceptionally low in Cadmium, which is a heavy metal which causes cancer in humans. So both those characteristics mean that our rock will become increasingly prized around the world. The exciting thing about our business model is because it’s a very low capital investment is a very high return to investors. The unique opportunity for an investor looking at us is that we don’t have any development capital. Once we are fully permitted, we don’t go build a mine in the mining camp and so on. Our deposits is going to be contract mined by dredging vessel, which has just kind of turned out great for us. In the end of the 15 or 20 year mine life, it’s just going to sail away. We don’t have to invest several hundred million dollars in setting up a mine in the supporting infrastructure.
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