Share
- Release Date: 05/11/12 10:30
- Summary: GENERAL: CRP: CRP congratulates Namibian marine phosphate company
- Price Sensitive: No
- Download Document 2.66KB
CRP
05/11/2012 08:30
GENERAL
REL: 0830 HRS Chatham Rock Phosphate Limited
GENERAL: CRP: CRP congratulates Namibian marine phosphate company
5 November 2012
Chatham Rock Phosphate congratulates Namibian phosphate company
Chatham Rock Phosphate today congratulated Namibian Marine Phosphate on news
it has received a mining licence from that country's Ministry of Trade and
Industry.
"It's an exciting global milestone for the industry," CRP chief executive
Chris Castle said. "We hope to be in a similar position within a few
months."
NMP is now waiting to receive environmental approvals before it can start
extraction.
CRP applied for a mining licence with New Zealand Petroleum and Minerals at
the end of September and will be applying for a marine consent to the
Environmental Protection Authority as soon as the Exclusive Economic Zone
regulations are completed next year.
Mr Castle said there were several similarities between the Namibian project
and CRP's proposal to extract phosphate from the seabed at depths of 400
metres on the Chatham Rise, east of New Zealand.
"NMP is using a similar suction hopper dredge to what we are proposing, at
depths of 180 to 300 metres. It is contracting Jan De Nul, a Belgian based
dredging specialist, whereas we are using Royal Boskalis, of the Netherlands,
which has become one of our cornerstone shareholders.
Both companies are adopting a similar approach to the mining technology. But
NMP will pump the extracted sediments 60 km to shore. With CRP, our project
is located 450 km from New Zealand and 200 km from the Chatham Islands, which
is too far to pump, so our vessel will bring each load to shore," Mr Castle
said.
The Namibian project is expected to be a significant economic boon for the
local economy in terms of jobs, downstream industry and tax.
"The Chatham Rock Phosphate project will benefit our economy by $1.3 billion,
according to a study by the New Zealand Institute of Economic Research,
through import substitution, exports and increased economic activity. We
will pay significant tax and royalties and should also benefit the Chatham
Islands' economy."
CRP expects to start operations at the end of 2014.
CRP has also applied for five prospecting licences offshore Namibia covering
about 45 sq km. The licences, to prospect for undersea phosphate, are at
water depths similar to the licence area CRP holds on the Chatham Rise.
"Our strategy is to extend the use of the mining capability we are developing
and apply that technology to extract undersea phosphate in other parts of the
world," Mr Castle said.
Chris Castle - +64 21 55 81 85 or [email protected]
End CA:00229292 For:CRP Type:GENERAL Time:2012-11-05 08:30:13
