JOHANNESBURG (miningweekly.com) – Aim-listed African Potash has signed its third memorandum of understanding (MoU) to supply 150 000 t of fertiliser to a Zimbabwe-based fertiliser supply company.
This trading agreement followed the signing of a landmark trading agreement with the Common Market for Eastern and Southern Africa (Comesa) and the Mask Africa Crowd Farm Fund in August, underpinning African Potash’s active growth strategy, as it looked to build a vertical platform for the mining, production and distribution of fertiliser.
Under the terms of latest MoU, which was subject to the signing of definitive transaction agreements, African Potash would source and fund the delivery of fertiliser through its proprietary network and methods, with first delivery expected later this year.
"[We] continue to deliver on our strategy of becoming a significant, vertically integrated fertiliser provider in Africa. African farms are only performing at 40% of their potential and simple measures such as quality, affordable fertiliser can triple productivity, which, in turn, has the potential to grow Africa economically,” African Potash executive chairperson Chris Cleverly said.