Through a 50:50 joint venture, Agro Inc holds equity interest in the only known commercial-grade phosphate deposit among Mano River Union countries. The phosphorus contained in phosphate rock is one of three essential plant minerals – along with nitrogen and potassium – critical to sustaining increased agricultural yields for the viability commercial agriculture and food security initiatives worldwide. Of these three nutrients, only phosphate is a finite, non-renewable resource which cannot synthesized. Phosphate deposits are rare, and known deposits are being depleted at an accelerated rate to support a growing world population. Agro Inc has a growing internal demand for phosphate rock and phosphate-derived fertilizers for use in cultivation expansion, and management of its oil palm and rubber plantation estates.
LibPhosCo will mine and market an initial minimum proven resource of 1.5 million tons of reactive phosphate rock. The average phosphate grade contains 28-32% phosphorus pentoxide, and characterization tests indicate that the LibPhosCo phosphate deposit meets or exceeds market specifications for beneficiation, solubility and granulation. The mined product can be used as either a phosphate component for blended NPK fertilizer, diammonium phosphate, or as a low cost direct application fertilizer. Primary regional markets for LibPhosCo products are fertilizer blending companies in Nigeria, Cote d’Ivoire, and Liberia.