Chatham Rock Phosphate pegs Namibian phosphate ground

Chatham Rock Phosphate pegs Namibian phosphate ground

Chatham Rock Phosphate today announced it has applied for five prospecting licences offshore Namibia covering about 45 square kilometres.

The licences, to prospect for undersea phosphate are at water depths similar to the licence area CRP holds on the Chatham Rise, offshore New Zealand.

Managing director Chris Castle said the company’s strategy is to extend the use of the mining capability it has developed to extract undersea phosphate.

“If the project proves successful it will significantly increase the marine rock phosphate resources under our control.

“We think it makes good sense to use the applied technology we are developing in New Zealand elsewhere and Namibia is the most advanced in the development of offshore phosphate reserves.”

Australian company Minemakers Ltd’s Sandpiper phosphate sands project is located about 60 km off the coast of Namibia and has an estimated resource of 60 million tonnes.

“We’re buying into an area that is very prospective, with several other companies undertaking exploration in well proven areas. The conditions are similar to what we already know. Based on the extensive work already completed by Sandpiper we believe the extraction costs appear attractive.”

CRP has also contracted a local agent, formed a local subsidiary company and met with local officials. “The people in the Ministry of Mines & Energy and in the Geological Survey were particularly helpful and we made significant progress in the short time we were there.

Mr Castle said he understood the processing of the licence applications could take a few months.

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