WELLINGTON, New Zealand,
July 22, 2019 /CNW/ - Chatham
Rock Phosphate Limited (TSXV: "NZP" and NZAX: "CRP"
or the "Company") is pleased to report the results of the
2019 Annual General Meeting of Shareholders held on Thursday, July 18, 2019. All matters
presented and recommended by management were ratified by the
shareholders.
The business of the meeting included the re-election of
Chris Castle, Robert Goodden, Linda
Sanders, Jill Hatchwell, and
Ryan Wong as directors. KPMG
International, LLP, Chartered Accountants were re-appointed as
auditors of the Company.
About Chatham Rock Phosphate
Chatham Rock Phosphate is the custodian of New Zealand's only material resource of
ultra-low cadmium, environmentally friendly pastoral phosphate
fertiliser.
The resource represents one of New
Zealand's most valuable mineral assets and is of huge
strategic significance because phosphate is essential to maintain
New Zealand's high agricultural
productivity.
New Zealand's current access to
phosphate is vulnerable to economic and political events in the six
countries controlling 98% of the world's phosphate reserves, with
85% of the total Morocco and
neighbouring state the Western
Sahara.
Chatham takes very seriously
the responsibility vested in it through its granted mining permit
to use the world's best knowledge and technology to safely extract
this resource to help sustainably feed the world.
Our initial environmental consenting process independently
established extraction would have no significant impact on fishing
yields or profitability, marine mammals or seabirds.
Our project ticks all the boxes: environmental, health, ethical,
security of supply, economic, regional development, rare earths and
other green minerals
- Our rock is a proven reactive phosphate rock. Using it results
in much less run-off into waterways and an improved soil profile
compared with the effects of manufactured fertilisers.
- It's an organic fertiliser with no additives and with the only
processing being grinding and possible pelletisation
- It contains ultra-low levels of cadmium, a cancer-causing heavy
metal with much greater concentrations in other rock phosphate
deposits
- Being locally sourced and needing to be applied less frequently
results in much lower carbon emissions (in effect increasing the
present NZ electric vehicle fleet from 10,000 to 29,000
vehicles)
- It is New Zealand's only
significant source of phosphate and seabed extraction involves a
far smaller environmental impact than that imposed on local
overseas communities which mine phosphate
- The rock is located within one day's sailing distance and
supply is far more secure (and more ethical) than phosphate rock
imported from unstable regions on the other side of the world
- The project economics are attractive and Chatham will pay significant royalties and
income taxes
- The project will generate new jobs in environmental monitoring,
on the mining ship, in the home port and in the science and
agricultural sectors
- Chatham rock phosphate has
been independently shown to be as effective as other phosphate
fertilisers used in New Zealand.
We could provide the two fertiliser co-ops supplying most of
New Zealand's fertiliser with a
green fertiliser alternative to naturally complement their other
products.
Neither the Exchange, its Regulation Service Provider (as
that term is defined under the policies of the Exchange), or NZX
Limited has in any way passed upon the merits of the Transaction
and associated transactions, and has neither approved nor
disapproved of the contents of this press release.
SOURCE Chatham Rock Phosphate
