3rd Sep 2015 06:55
LONDON (Alliance News) - African Potash Ltd Thursday said it has signed its third and largest offtake agreement to supply fertiliser through its previously signed agreement to build a production and distribution platform for fertiliser in Africa.
The company has signed a memorandum of understanding with an unnamed Zimbabwean fertiliser supply company to provide 150,000 metric tonnes of fertiliser per year.
The two previous agreement signed by the company were only for 50,000 metric tonnes per year each, meaning African Potash has secured deals to supply 250,000 metric tonnes of fertiliser per year.
That means the company has reached the halfway point of its deal with the Common Market for Eastern and Southern Africa (COMESA) and the Mask Africa Crowd Farm Fund Ltd to create a production and distribution platform for fertiliser in Eastern and Southern Africa, which was signed in August.
Under that agreement, the company is planning on deals through COMESA to supply a total of 500,000 metric tonnes of fertiliser per year.
More agreements are being sought, and the company said it plans to make further announcements as more deals are signed.
By Joshua Warner; [email protected]; @JoshAlliance
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