Maritimemining on the cards

SPECIALTY chemicals maker Israel Chemicals (ICL) said yesterday that it was looking to establish a phosphate operation in Namibia, together with holding company Leviev Group. The two companies have signed a memorandum of understanding to build together “a large-scale maritime mining and phosphate downstream manufacturing business”, ICL said. LLNP, a Namibian subsidiary of the Leviev Group, holds permits and exploration rights to mine phosphate deposits that are estimated to total about 1 billion tons. Once development is complete, the partners will prepare a feasibility study to secure financing for the project. – Reuters