Business
Chatham Rise rock phosphate will reign supreme in a low cadmium world
Chatham Rise rock phosphate will reign supreme in a low cadmium world Canada NewsW...
About this update from Chatham Rock Phosphate Limited
[{"type":"text","content":"\n\n\n\nChatham Rise rock phosphate will reign supreme in a low cadmium world\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWELLINGTON, New Zealand, March 15, 2018\n\n\n\nWELLINGTON, New Zealand, March 15, 2018 /CNW/ - Chatham Rock Phosphate Limited (TSXV: \"NZP\" and NZAX: \"CRP\" or the \"Company\") wishes to advise shareholders of a recent article by Richard Taylor in International Policy Digest that has commented on the effects of the proposed lowering of accepted cadmium levels in phosphate rock imported into EU countries.\n\nIn this article it is estimated that a lowering of the limit to 20 gm/kg will effectively bar 95% of phosphate ore from entering the EU market.\n\nCRP cannot confirm that estimate but we do know that the reduced cadmium limits will affect a significant proportion of traded rock phosphate including rock sourced from Egypt, Israel, Boucraa & Youssoufia (Western Sahara/Morocco), Senegal, Togo, Tunisia, Nauru and Christmas Island. \n\nAs the EU ban on high cadmium levels has arisen due to food safety concerns, it would be logical to assume that similar restrictions will occur in other regions. There have been voluntary restrictions in place in New Zealand for many years. \n\nAccording to Chatham Rock Phosphate managing director Chris Castle \"the good news for Chatham Rock Phosphate shareholders is that cadmium levels in Chatham Rise rock phosphate are among the lowest in the world.\" \n\nMr Castle said the rock, located on the Chatham Rise seabed east of New Zealand showed an average of 2.2 parts per million (expressed as mg/kg of P) from a range of samples gathered by CRP in 2012 from 11 separate locations. The lowest value was 1.3 parts per million with a high of 5.3 parts per million.\n\nRock phosphate is already the scarcest of the three fertiliser constituents used to sustain world food and primary sector production. And if world-wide sales restrictions are placed on 95% of that resource the likely effect on the market value of the remaining 5% of traded phosphate rock (and its producers) can only be imagined. &#...