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Main Forum•MAK major JV by end of 2012
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Phosphate is featured in two articles today and I found both interesting and thought provoking.
Today's article in Miningnews.net by R. Bromby paints an interesting and encouraging picture for those about to invest in the Phosphate resource area titled "Lifting the phosphate rock"
Bromby details how Australians have deserted the sector and that rushing into the gap are China and Japan.Snippets: AND – surprise, surprise – we find that China is accumulating this vital resource. As is Japan.
The known world phosphate rock resource stands at 65 billion tonnes. Of that, 50Bt is to be found in Morocco and its occupied territory, the former Spanish colony of Western Sahara.
China has the second largest resource with 3.7Bt, followed by Algeria (2.2Bt), Syria (1.8Bt), Jordan (1.5Bt), then South Africa, the US, Russia and Brazil. Also in the top 16 are Egypt and Tunisia, with Australia coming in at fourteenth with 82Bt.
At this point, you can say two things. One, of course, phosphate is going to be a prized asset in the years ahead as the world tries to feed all the extra billion people living on the planet.
Bromby's article goes on to detail who has what in Australia.
The second article in The Pioneer squarely points out just how far along NMDC: A Govt of India Enterprise are with the establishment of a JV with Minemakers (ASX: MAK).Snippet: “All our focus is currently on wrapping up the deal with Australian entity Legacy Iron, which is in final stages. Australia’s Foreign Investment Review Board (FIRB) as well as the Legacy shareholders have given their approval to the NMDC-Legacy deal. Some of our officials are still in that country to see it through. Once this is done, we hope to close our deal with Minemakers (for developing its Wonarah phosphate deposits in that country’s Northern Territory) by January 2012,” a senior NMDC official told The Pioneer.
A senior Steel Ministry official told this correspondent that due diligence for Wonarah project would begin soon. NMDC is a Steel Ministry subsidiary.
“Before we move any further on the NMDC-Minemakers JV for Wonarah deposits, due diligence would have to be done. It will happen soon,” the official said.
Both Legacy and Minemakers deals are significant for NMDC, which has ambitious plans of acquiring overseas assets and Australia with its rich mineral deposits of iron ore as well as phosphate, is high on the company’s radar. http://www.dailypioneer.com/business/28988-nmdc-to-wrap-up-minemakers-deal-in-jan-2012.html
I hold MAK, UCL, KRB.
Read about Australia's phosphate resources, stocks, news etc at www.australian-phosphate.com/
