IPL never developed the project because China had driven the...

IPL never developed the project because China had driven the price of phosphate fertilisers down massively, they completely dominated global markets for over a decade with cheap product.

Now with wars, food security issues and China rightfully so deciding to limit exports to reduce domestic prices and conserve their reserves, it has left a massive opportunity for new suppliers.

Morrocco will ramp up a little bit but will be weary of too much capital investment in case prices do come down.

Ardmore is the right mine at the right time.