Once widespread attention in Yichang, Hubei added with mineral fertilizer project has recently made significant progress, approved by the Ministry of Land Resources, Yichang, Hubei Phosphate Industry Group Co., Ltd. will be held by the sub shop Kong Mountain Ping Ping phosphate and phosphate into the tree and Canada Yichang Maple Leaf Chemicals Co., Ltd. joint venture, can be used to 60.2602 million tons of phosphate reserves of the two phosphate rock mining permit has also been officially issued to the Sino-Canadian joint venture. Sino-Canadian joint venture agreement in accordance with, the mineral rights as capital injection of Yichang Maple Leaf Chemicals Ltd.
It is understood, Yichang, Hubei Province in Canada is a Canadian mineral fertilizers combined with items listed Spahr Resources and Yichang Phosphate Industry Group Co., Ltd. jointly established a joint venture Yichang Maple Leaf Chemicals Co., Ltd. construction of large-scale integration projects of mineral fertilizers. Yichang Maple Leaf Chemicals Co., Ltd. was founded, due to Yichang phosphate resources development and utilization of internal and external environment, phosphate resources and policy factors such as market conditions changed dramatically, and foreign parties, including phosphate rock mining rights in the registered capital in place, including time and project construction program and there exist many differences, leading to the slow progress in the project, several stranded. After several rounds of difficult negotiations and added the support of relevant government departments, in October 2009, adding the two sides finally reached a consensus to continue to promote the project. At this point, Yichang, Hubei combination of mineral fertilizers in the project plus a major turning point.
However, in this critical period, the Hubei Provincial Government issued a "high-phosphorus iron ore to further strengthen the development and utilization of phosphate management," and proposed the establishment of a number of provincial phosphate planning area, geological exploration fund projects at the provincial level, the planning all district minerals prospecting and mining rights to suspend the approval. And clear: from 2011, Hubei Province began to promote the exploration and development of phosphate rock ready, relying on large-scale phosphorus chemical enterprises, ready to exploration and mining of phosphate mining area has been set of phosphate resources. Implementation of the Hubei province of phosphate is restricted, and gradually restructuring and closure of production capacity at 150,000 tons / year of phosphate rock business, promoting competitive enterprises and large resources to focus on phosphorus chemical enterprises are concentrated, to support development of phosphorus chemical products fine, ban low concentration of phosphate fertilizer on new projects and production of yellow phosphorus project alone. The province phosphate beneficiation, processing enterprises and products of category management, not to limit the configuration of phosphate out of class business resources and implementation of differential pricing policies. "Opinions" of the introduction, once again the people's attention toward Yichang, Hubei combination of mineral fertilizers in Canada project.
Meanwhile, the "opinion" also attracted the attention of Yichang City, Hubei provincial government to implement the decisions and a more rational and efficient development and utilization of local resources, under the auspices of the Yichang City, Hubei Yichang Phosphorus Chemical Industry Group Co., Ltd. agreed to All shares transferred to the pillars of the local phosphorus chemical industry enterprises Hing Fat Group. After integration and restructuring negotiations, August 16, Yichang, Hubei Phosphate Group and Hing Fat Group signed a share transfer agreement, the agreement still need to by the Yichang City, Hubei Province SASAC approval before taking effect. Recently industry sources have said, Hing Fat Group completed the equity transfer of phosphate groups submitted after approval of the SASAC in Yichang City, Hubei Province and is just walking program, expected to be completed soon, we need to do is to Yichang Maple Leaf Chemicals Co., Ltd. into equity. As the first Canadian resource companies Spahr 160 million capital fund has been in place, Hing Fat Group restructuring Yichang phosphate group, and will further accelerate the increase of mineral fertilizers combined with the project construction process. Canada in the end the fate of mineral fertilizers combined with the project what will happen? In response, industry critics say: quite worth the wait!
Background
Yichang, Hubei added mineral fertilizers combined with the project agreement was initialed in 1997, February 1999, former State Planning Commission approved the project in March 2002 by the Premier's office final approval, after approval of the Ministry of Commerce in November 2003 in Hubei Provincial Industry and Commerce for registration. The project is Canada's largest investment project in Hubei Province by Canada and the Chinese government's attention and concern. The project relies on North America's largest capital market and the highest quality phosphate resources in Hubei, the total size of the original design for the annual output of 1.35 million tons of phosphate rock, 80 tons of sulfuric acid, 240,000 tons phosphoric acid (P2O5) and 150 tons of high concentrations of phosphorus re- fat, estimated total investment of 3.0 billion yuan. May 29, 2008, Yichang Maple Leaf Chemicals Canada Ltd. joint venture construction of one million tons of mineral fertilizer combined with additional project broke ground in Yichang, Hubei. Project a 120,000 t phosphoric acid (P2O5), 30 万吨 MAP / NPK plant, originally planned to put into operation in February 2009.
Spahr Resources in Canada, Toronto Stock Exchange and American Stock Exchange Nasdaq-listed company specializing in global fertilizer and resource development company headquartered in Vancouver, Canada. Spahr resources through the company's strategy is a means of capital and international capital platform, worldwide integration, development and efficient use of resources. Spahr resources in China's strategic goal is to achieve growth with China: through the construction, acquisition, restructuring in China compound fertilizer industry in China to achieve rapid growth; through the resources, manufacturing and marketing network integration, integration and restructuring the establishment of localized management team to accelerate its development strategy in China. (Zhu Yongkun)