Fertoz Pens Phosphate Supply Deal with US Fertilizer Company

Fertoz Pens Phosphate Supply Deal with US Fertilizer Company

The two agricultural companies have also set up a formal memorandum of understanding to create a joint venture.

Australian phosphate developer Fertoz (ASX:FTZ) has signed an agreement with international fertilizer company Humic Growth Solutions to supply phosphates which will be blended with Humic products.

The decade spanning sales and supply deal outlines the production of a blended humate/phosphate fertilizer.

There is also a formal memorandum of understanding between the two agricultural companies to create a joint venture.

The pair of producers have estimated that sales in the first 24 months will reach 35,000 to 40,000 tons through the new value-added fertilizer products. That number is expected to grow in the years that follow.

The unique phosphate humate product will deliver much needed nutrients to crops, while simultaneously improving soil health.

“Blending these with our high-quality, high-availability organic rock phosphate allows Humic Growth Solutions and Fertoz to jointly market premium blended fertilizer products to broad acre crop farmers, high-intensity vegetable growers and greenhouse operations looking for fertigation productions and drip-feed fertilizers,” Pat Aver, Fertoz executive chairman, said in the announcement.

“This relationship makes a solid strategic fit as well as a geographically advantageous one, as the closest HGS processing facility is only 190 miles from our Montana stockpile and it has road and rail access to all of North America.”

The hybrid soil additive, which is already in demand by farmers can be used by traditional and organic farmers.

“Blended humates and phosphate are high-value fertilizers, so freight costs are not a major consideration, meaning we will be able to sell the blended product right across the United States and Canada,” added Avery.

Humic Growth Solutions is the largest manufacturer and supplier of organic humic products, which include a 100-percent soluble humic acid powder and patent protected humic acid granule.

The humate Humic Growth sources come from Alberta and is processed at the company’s facilities in Alberta, Idaho, Florida and Montana. The final product is then exported to world markets.

“HGS has a great suite of humate-based products but we are always looking for complementary components that bring agronomic value and can economically improve yields and crop quality to producers around the world,” Humic Growth Solutions, founder and CEO Kevin Merritt, said.

“We selected Fertoz phosphate due to its high quality, its proximity to our Montana processing facility, its well-developed logistics solutions and its impressive sales history and developing market penetration.”

Fertoz shares were up 11 percent on Thursday (November 22), closing at AU$0.20.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Hastings Technology Metals Ltd Measured and Indicated Mineral Resource Tonnes Up by 54%

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM), is pleased to announce a material increase in Mineral Resource Estimate at its Yangibana Rare Earths Project (Yangibana) in Western Australia’s Gascoyne region.

Highlights

– Measured and Indicated Mineral Resource tonnes increased by 54% to 16.3Mt for Yangibana deposits drilled during 2020.

Keep reading... Show less

ASI certifies Rio Tinto’s ISAL smelter for responsible production

Rio Tinto’s ISAL smelter in Iceland has been certified by the Aluminium Stewardship Initiative (ASI) for meeting the highest internationally recognised standards for responsible aluminium production.

The certification continues Rio Tinto’s leadership of the industry on responsible aluminium production from mine to metal, and means customers can be assured aluminium produced at ISAL meets independent environmental, social and governance standards.

Keep reading... Show less

Rio Tinto updates details of tailings facilities

Rio Tinto today released updated information in relation to its global tailings facilities to align with the requirements of the Global Industry Standard for Tailings Management (GISTM) released in August 2020, an initiative co-convened by the International Council on Mining and Metals, United Nations Environment Programme and the Principles for Responsible Investment.

The latest disclosure at http://www.riotinto.com/tailings builds on previously disclosed information on each of Rio Tinto’s global tailings facilities released in June 2019 and the publication of Rio Tinto’s Group Procedure and updated Standard for ‘Management of tailings and water storage facilities’ in February 2019. The changes to existing data are in line with guidance contained in GISTM including updating information previously disclosed.

Keep reading... Show less

Hastings Technology Metals Ltd Quarterly Activities Report

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer, Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is pleased to report on exploration and development activities for the three-month period to 31st March 2021. Most of the activity focused on the Company’s Yangibana Rare Earths Project (“Yangibana”) in the Gascoyne region of Western Australia.

Highlights

– Hastings raised $100.7 million (before costs) through a two-tranche equity placement priced at $0.19 per share, with funds to be used to advance development of the Yangibana Rare Earths Project.

Keep reading... Show less

Argyle Diamond Mine Closure: What’s Next for the Sector in Australia?

Click here to read part one of this article, which covers the closure of the Argyle diamond mine.

When the mining equipment permanently shut down at Western Australia's Argyle mine in November 2020, the country's diamond sector entered a transitional period.

As the world's fourth largest diamond-producing asset shuttered, domestic output of the gems instantly declined by as much as 90 percent.

Keep reading... Show less

Top News

Related News