🕐30.01.14 - 03:27 Uhr

KORAB RESOURCES LTD [KOR] - NEW PHOSPHATE MINE IN AUSTRALIA





Fortbridge Media Release

Korab Resources Ltd [KOR] - New phosphate mine in Australia

Korab Resources Ltd, an international mining and exploration company with operations in Australia and Europe announced today that it has received all permits required to develop a new Australian phosphate mine short distance from Darwin in the Northern Territory. Korab�s shares are traded on Australian Securities Exchange (ASX) under a code KOR and on the Berlin Stock Exchange (Berliner B�rse) under a code C6S.BE.
The new phosphate mine at Geolsec project has some of the best logistics and basic infrastructure of any rock phosphate project in Australia. The mine is located 2km from the town of Batchelor, approximately 70km south from the port of Darwin (capital of the Northern Territory). The Geolsec project is accessible all year round by sealed Batchelor Road. Geolsec is situated in close proximity (10km by sealed road) from Stuart Highway and the transcontinental railway line connecting Darwin with Adelaide (capital of South Australia) and with the national road and rail transport network which links Adelaide with Western Australia, Victoria and New South Wales.
The Company also advised that it commenced discussions with users of rock phosphate, fertilisers and soil improvement products as well as with potential distributors and contractors providing aerial application services of fertilisers and soil improvement products in the Northern Territory, Western Australia and Eastern States.
The start-up costs of the mine are exceptionally low because of its geology and location. The company estimates that it will cost less than $300,000 to start production of the direct application phosphate fertiliser. In the past, Korab announced exceptionally high grade assays from this phosphate deposit at around 39% p2o5. The rock is highly reactive making it ideal for direct application to acidic soils which are common along Australian coastline. Australia is one of the top organic farming countries in the world and demand for direct application rock phosphate is very high and is growing at a steady rate. Large mango plantations located in the Northern Territory and Western Australia that currently import the phosphate rock from overseas and Queensland are short distance from the mine and are likely to prefer a local supplier. Direct application reactive phosphate rock sell for between $400 and $1,200 per tonne. Korab estimates that operating costs of the mine will be unde
r $100 per tonne of rock giving the company exceptionally high profit margin.
More information about the Geolsec phosphate mine is available from Korab�s website at:




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