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- Release Date: 19/12/12 11:15
- Summary: GENERAL: CRP: Chatham achieves key milestone with Royal Boskalis
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CRP
19/12/2012 09:15
GENERAL
REL: 0915 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: Chatham achieves key milestone with Royal Boskalis
19 December 2012
Chatham Rock Phosphate achieves key milestone with Royal Boskalis
CRP is pleased to advise that it has agreed with Boskalis to proceed to phase
two of its services contract. This phase involves the final detailed design
of a system for extracting rock phosphate nodules. This phase is a commitment
that is estimated to cost around EUR4 million and is scheduled to be
completed by 30 June 2013.
Boskalis is CRP's technical partner in its Chatham Rise rock phosphate
project and is a leading global services provider operating in the dredging,
maritime infrastructure and maritime services sectors. In July this year, CRP
entered a contract for services with Boskalis Offshore B.V. and Boskalis took
a 20% shareholding in CRP. This shareholding was, to a large extent, a
prepayment for services that Boskalis was to provide, including for this new
phase. It is anticipated that this new phase of the contract would involve
only a modest future cash cost, if any, to CRP.
To date under the contract CRP and Boskalis have done extensive work refining
the extraction system for recovering and separating phosphate nodules
applying adapted and proven technologies. Key considerations have included
capital and operating costs and minimising possible environmental effects.
The Chief Executive Officer of CRP, Chris Castle stated "We are very pleased
with the results to date under our contract with Boskalis. The outcomes
achieved so far all support the feasibility of taking our project through to
production. We have enjoyed a very productive and positive working
relationship with Boskalis and are thrilled at this further commitment to our
project by Boskalis".
Chris Castle - Chief Executive Officer CRP - +64 21 55 81 85 or
[email protected]
End CA:00231340 For:CRP Type:GENERAL Time:2012-12-19 09:15:09
