Shipment company

Centrex Subsidiary (ASX:CXM) Signs Deal for Enriched Phosphate Trial Shipment – ​​The Market Herald

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  • Centrex (CXM) Subsidiary Agriflex Signs Enriched Phosphate Trial Shipment Agreement with Ameropa Australia
  • The test shipment consists of 5,000 wet tonnes of enriched phosphate from the Ardmore Phosphate Rock project in North West Queensland
  • It also includes a first right of refusal to purchase 10% of the Ardmore mine’s annual production for the first three years.
  • The shipment will be loaded in Townsville, Queensland in November, free on board, with pricing to be finalized six weeks prior to loading.
  • Centrex is down 3.33% with shares trading at 14.5 cents at 1:31 p.m. AEST

Centrex (CXM) subsidiary Agriflex has signed an agreement for a trial shipment of enriched phosphate with Ameropa Australia.

The test shipment consists of 5,000 wet tonnes of enriched phosphate from the Ardmore Phosphate Rock project in North West Queensland.

It also includes a first right of refusal to purchase 10% of the Ardmore mine’s annual production for the first three years.

The first right can be exercised within 60 days of notification by Agriflex of its estimate of production available over the next three years.

If Ameropa chooses not to exercise the first right within 60 days, it will expire and Ameropa will have no further obligations to Agriflex under the agreement.

The cargo will be loaded in Townsville, Queensland in November, free on board, with prices to be finalized six weeks prior to loading.

It is conditional on the upgrades to the processing plant being completed to the satisfaction of Agriflex to produce sufficient product.

It is also conditional upon obtaining all necessary approvals to Centrex’s Delivery Obligations.

“Agriflex is proud to enter into this agreement with Ameropa, a respected, world-class company, while helping to improve Australia’s security of supply of phosphate rock,” said Managing Director Robert Mencel.

“With the signing of this agreement, the Ardmore project has 100% of its first three years of production allocated to major customers in Australia, New Zealand and Asia.”

Centrex was down 3.33% with shares trading at 14.5 cents at 1:31 p.m. AEST.