NZP has completed a maiden resource estimate for its Korella North phosphate project, located adjacent to Incitec Pivot’s (ASX: IPL/MCAP: $4.8B) Phosphate Hill mine in Australia. 

NZP has delineated a small-tonnage/low-grade resource totaling 355 Kt P2O5 at an average grade of 13%. This estimate covers 25% of the project’s area, implying that the project has potential to host up to 1.4 Mt vs management’s previous guidance of 2.5 Mt.