Phosphate – a sought-after raw material

There are about 70 billion tons of phosphate rock that have now been discovered. According to official estimates, global phosphate reserves were recently thought to be 71 billion tons. Phosphate is part of fertilizer production and is thus in demand worldwide, because the demand for food is growing as the world’s population increases. But the raw material is also needed for something else important, namely for the production of solar cells and in the field of electromobility.

Phosphate contains a lot of phosphorus, and the find is significant because phosphate is in short supply in Euroland. According to estimates, the Norwegian find could cover the global demand for batteries and solar cells for a good 100 years, some assume less, but nevertheless the find is a sensation. Fertilizers have risen sharply in price, partly to blame for Russia’s attack on Ukraine because Russia has the largest phosphate deposits. The supply from Russia is now limited.

Thus, the find stands for the longed-for independence from the raw materials of other countries. The world needs about 45 million tons of phosphorus every year. In addition to phosphate, titanium and vanadium were also found in Norway; vanadium is used to reinforce steel. At present, about 90 percent of phosphorus is used in fertilizer production. Besides phosphorus, potash is the raw material for fertilizers. Potash is available in Canada and, for example, in excellent quality in mining-friendly Gabon in Africa.

Here, Millennial Potash – https://www.commodity-tv.com/ondemand/companies/profil/millennial-potash-corp/ – is developing its Banio potash project. Potash is also subject to sanctions against Russia as a production country.

Phosphate and vanadium are owned by Green Shift Commodities – https://www.commodity-tv.com/ondemand/companies/profil/green-shift-commodities-ltd/ – in its projects in Colombia and Argentina, along with nickel, lithium and uranium.

Current corporate information and press releases from Millennial Potash (- https://www.resource-capital.ch/en/companies/millennial-potash-corp/ -).

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