Mr. Chris Castle reports

AUSTRALIAN GOVERNMENT ADDS PHOSPHORUS TO STRATEGIC MINERALS LIST

Phosphorus has been added to the Australian government's strategic minerals list.

With Chatham Rock Phosphate Ltd.'s Korella phosphate project comprising Korella North ML100379 and Korella South EPM 28187, the addition of phosphorus to the Australian strategic minerals list provides further impetus to the company's activities.

Korella phosphate has been tested using an ore-sorter to produce phosphate with specific characteristics required in the production of yellow phosphorus. Yellow phosphorus is then used for production of thermal-grade phosphoric acid used in manufacture of lithium-iron-phosphorus batteries.

The new Australian strategic materials list contains minerals:

• That are important for the global transition to net-zero and broader strategic applications, specifically the priority technologies set out in the critical minerals strategy;
• For which Australia has geological potential for resources;
• In demand from its strategic international partners.

The strategic materials list signals the government's support for their continued development and consists of six minerals:

• Copper;
• Nickel;
• Aluminum;
• Phosphorous;
• Tin;
• Zinc.

As the next step, the Australian government plans to scope the creation of strategic critical minerals hubs around the country.

This announcement, made on Dec. 16, 2023, by Australian Minister for Resources and Northern Australia Madeleine King, said the changes followed extensive consultation with industry, the public, and states and territories, and would support Australia's growth as a major exporter of clean energy materials.

"The updated critical minerals list and the new list of strategic materials will help the government focus on those commodities needed to create jobs, keep us secure and power our economy," Ms. King said.

"These minerals are critical to the greening of our economy and the defence of Australia and its allies. The critical minerals list and strategic minerals list will be updated on an as-needed basis as economic and geostrategic dynamics evolve.

"Australian copper, nickel, aluminum, phosphorous, tin and zinc will be vital to the world's energy transition, which is why for the first time ever, it has articulated its economic and strategic importance by creating the new strategic minerals list.

"Australia is well placed to meet increasing global demand for minerals, with large endowments, technical expertise and established resources supply chains," Ms. King said.

This announcement underlines the long-term strategic value of Chatham Rock's commitment to become a supplier of phosphate not only for the Australian agricultural sector but also to the market for high-grade phosphate rock used in the production of yellow phosphorus and thermal-grade phosphoric acid used in LFP batteries.