The European Bank for Reconstruction and Development (EBRD) has awarded fertilizer company PhosCo a $1.8 million grant to support the advancement of its Gasaât Phosphate Project in Tunisia.
The funding will be complemented by a A$1.1 million investment from PhosCo Managing Director Taz Aldaoud, aimed at optimizing technical work.
The technical program will include further exploration of low-strip deposits, refinement of the processing flowsheet, and evaluation of downstream opportunities and supporting infrastructure such as water and transport systems.
EBRD also holds rights to 60 million options to be issued in two tranches, potentially adding a $7.5 million in further investment as the project progresses.
According to Aldaoud, these investments will help integrate the recent KM discovery into Gasaât’s already significant JORC resource of 146.4 million tons at 20.6% P₂O₅, ensuring a cost-effective, long-life operation.
The Gasaât Phosphate Project is expected to produce 68 million tons of phosphate concentrate over its 46-year mine life, at an average annual output of 1.5 million tons. PhosCo has already recommenced fieldwork to advance development activities.
