Australian phosphate producer Centrex Ltd. on Feb. 29 announced that it has received credit approval from National Australia Bank Ltd. (NAB) for a ~A$10m secured financing package designated for the Ardmore Phosphate Mine. The company said it now has clear funding visibility to conclude Stage 1.5 expansion at Ardmore on budget and on schedule.
Upon completion of the expansion, Ardmore’s production run-rate will increase from the current ~240,000 mt/y to 625,000 mt/y by December 2024. Centrex said this substantial increase will significantly lift revenues while also reducing operating costs on a per-mt basis. It said it will cement the company’s position as a major and dependable supplier of rock phosphate in the key Asia-Pacific market.