News: AEV Avenira Receives Mining Authorisation For Direct Shipping Ore Operations, page-33

Also amongst the panic merchants keep in mind the market is in favour for higher rock prices.

We shall see what prices remain for 2024.


"In the last month phosphate market dynamics have changed significantly, with the key drivers for this as follows:

• China effectively halted phosphate fertilizer exports in response to increasing domestic prices for phosphate rock and phosphate fertilizers. The price increases are driven by dwindling phosphate rock supply and increased demand from the fertilizer and yellow phosphorus sectors. China last year exported approximately 6Mtpa, down from 9Mtpa as recently as 2019, and further decreases are anticipated.

• In the regional South Atlantic and SADC markets there are enquiries for phosphate rock which is likely driven by the prospective loss of the Chinese seaborne phosphate units.

• In the local context the Lobito rail Corridor from Angola to DRC and Zambia has now attracted $1.6 billion in funding with the most recent commitment coming from the USA at a meeting between Presidents Biden and Lourenço in

Washington. The increasing certainty of the development opens up the prospect for fertilizer sales along the corridor.

In the medium term, increased yellow phosphorus demand for LiFeP batteries and dwindling phosphate rock resources in China is likely to result in higher prices for phosphate rock and fertilizer in global markets."