Cash backed and a major Potash resource, page-28

China could be out of high grade phosphate rock by 2030 if you believe some articles.

Then you think of the cuts to Chinese coking coal and iron ore mines in 2016. The end result was a tripling in commodity prices from the lows.

China has cut phosphate supply by up to 30% according to some articles. More importantly I think the market has missed the point that phosphate is used in some lithium batteries and also supercapcitors.

https://www.arb.ca.gov/msprog/tech/techreport/bev_tech_report.pdf

This article from 2015 states china already had 2500 operating electric buses. The company byd (wazza buffet is an investor) uses lithium iron phosphate batteries.

I wonder if some analysts have crunched some numbers on the increase in phosphate demand. Most of the supply also comes from areas that could be offended by the new Donald trump policies.