Melbourne-Legend International Holdings Inc. has formed a strategic alliance with China’s Wengfu Group Co. Ltd. (Wengfu) for the development of its phosphate mine, a beneficiation plant, and a phosphoric acid plant in the Mount Isa region, Queensland, Australia. Wengfu, one of the largest phosphate fertilizer producers in China, has developed two phosphate mines in Guizhou Province, and beneficiation, fertilizer, and chemical plants in Guizhou, Gansu, and Sichuan Provinces, China. Wengfu produces over 2.5 million tons of finished fertilizer products, and also has a large research and development arm that has enabled it to produce many specialty phosphate chemical products. The company has a large global network in the phosphate fertilizer industry and exports fertilizer to over twenty countries worldwide, including Australia and New Zealand. Wengfu is currently contracted to provide engineering, procurement, and construction services for the large phosphate Ma’aden Beneficiation Project in Saudi Arabia, which is due for completion in 2010. Legend and Wengfu have agreed to work together initially on the feasibility study for the mining and beneficiation of phosphate rock at Legend’s Georgina Basin Phosphate Project in Queensland, Australia. Pending a positive feasibility study, Wengfu and Legend will also investigate the production of specialty phosphate products derived from the manufacture of phosphoric acid. After completion of a positive feasibility study for the mining and beneficiation, Wengfu will become an equity partner with Legend to strengthen the alliance and share in the benefits of the successful development of all stages of the project, including the production of specialty phosphate chemical products. Legend says the strategic alliance with Wengfu will further advance the phosphate project beyond its initial phase of mining and shipping unbeneficiated phosphate rock pursuant to its existing alliance with IFFCO.
Transparency Across the Fertilizer Value-Chain