Melbourne-Legend International Holdings Inc. said Dec. 2 that it has Nomura as its financial advisor on potential strategic transactions related to its phosphate mining and refining business in the Georgina Basin in Queensland, Australia. The transaction will involve assessing interested industry partners who wish to form a strategic alliance with Legend and invest in the project. “Nomura has a strong track record of successfully executing cross-border transactions in the APAC region,” said Joseph Gutnick, Legend president and CEO. “We are excited about working with the Nomura team to maximize the value and outlook for our phosphate business. We are confident that the strength of Nomura’s network and unparalleled access to potential investors, particularly in the Asian region, will ensure a successful outcome for Legend and its investors.” Legend’s phosphate and mining business in the Georgina Basin consists of three key phosphate deposits in Mt. Isa. Legend’s current plan is to build a phosphate fertilizer complex that will commence commercial production in 2013 in Mt. Isa near the three deposits. Legend proposes to develop the project in two stages that will occur sequentially: development of the phosphate fertilizer complex, and development of a beneficiation plant that will be used to upgrade phosphate ores mined. Legend believes its phosphate deposits benefit from ideal location, attractive scale, and proximity to well-developed infrastructure. Legend expects that the complex will be able to produce 600,000 mt and 1,200,000 mt of MAP and DAP per annum under the base case and expanded production case, respectively.
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