Jordan Phosphate Mines Co. has announced an agreement with Sycamore, Ill.-headquartered Ideal Development Company for Manufacturing Industries for an exploitation project of phosphate stock at its Eshidiyeh mine in southern Jordan. The deal was signed on July 26.
The project entails the construction of a phosphate upgrade unit on a build-own-operate-transfer (BOOT) basis, and will be completed within 23 months, according to a July 27 company filing to the Amman stock exchange.
The upgrade unit will have capacity to produce 1.5 million mt/y of phosphate with a tricalcium phosphate content higher than 66 percent and up to 74 percent at an average price of $32/mt for 20 years, JPMC said.
Ownership of the new plant will pass to JPMC at the end of the contract duration. The Jordanian company did not comment on the value of the contract.