Australian Aquia Resources plans to explore resources at its Três Estradas Phosphate Project , projected to hold 105 million tonnes of phosphate.
The company announces that it has secured a $3.75 million loan from a Brazillian development bank to fund the construction of the project.
The loan was approved by Banco Regional de Desenvolvimento do Extremo Sul (BRDE). This approval follows a letter of support from BRDE after an extensive review of Três Estradas, which confirmed that the project meets its investment criteria.
Aguia is planning to produce 306,000 tonnes of natural phosphate fertiliser per annum from the TEPP site.
Aguia expects to sell its product Pampafos for A$72 per tonne. This is very competitive compared to Aguia’s competitors who are selling imported and more expensive conventional fertiliser products, according to Aguia.