Scoping study for Legend Int, published 18 April 08 by British...

Scoping study for Legend Int, published 18 April 08 by British Sulphur, one of the leading fertiliser consultancies in the world, stated:

Product Prices – Our average annual price for phosphate rock is based on our expectations of where the typical contract price of phosphate rock sourced from various locations and delivered to India will settle within the next several years. In March 2008, new contracts were settling near $400/t cfr India, and expectations are that prices in the second half of 2008, as well as in 2009 and 2010 could rise further. We have chosen to use only $200/t in our analysis, in part due to the fact that we believe that phosphate rock prices will begin to ease by the time the Legend plant is built. This is primarily a function of the two confirmed and one probable projects of similar size being brought on stream during a similar time-frame (though not all of this new capacity will invariably be for export), as well as several others under study, and the likely impact of these on prices.

link Scoping Study

3 months later, 16/07/08, the equity and offtake agreements between LEGI and IFFCO were announced.

cheers
Marny