ipl has bolted, page-28

How can MAK be a peer to IPL??? IPL has both the resource and the plants to make DAP, MAP and SSP as well as the suite of other products required for farm inputs, Nitrogen, Phosphates and Potassium (and Sulphur )(NPK+S) such as urea, UAN, AN and a host of "granulated blends".

IPL both manufactures from local rock and imported rock as well as imports of finished product according to logistics - plant locations, forward orders, seasons and contracts.

IPL also has the distributors, agents and sales force to move product. If IPL control 50% of the fertiliser market (higher if you don't include CSBP as they don't operate much in the same markets east vs west) then who is MAK going to sell to?

Also sulphuric acid is the biggest limiting factor in producing any fertilisers from rock phosphate.

I'm not sure but where is MAK going to get theirs? the hurdles that the QLD Phpsphate plant had initially took years to overcome. eventually used "waste acid" from mining, same in the west - IF MAK were ever to have a production plant.

Rock phosphate needs to undergo some levels of beneficiation, and it will be this that determines where the product sits in terms of quality on the world stage.

As long as the resource is low in cadmium it will be a great product to mine and there should be a great future for the co.

Personally I hope there is another east coast manuf. of phosphates. There should be plenty of smaller distributors in a position to market it...

mt2cw!

Cheers