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Kropz Plc provides update on Elandsfontein phosphate project sales

Published by , Deputy Editor
World Fertilizer,

Kropz Plc, an emerging African phosphate producer and developer, has announced further sales of 43 886 t of phosphate concentrate from Kropz Elandsfontein (Pty) Ltd during April 2023. The company is pleased to be able to report this continuation of sales and expects to update the market quarterly going forwards as sales continue.

As announced on 14 March 2023 the company had entered into new bridge loan facilities of ZAR 285 million with its major shareholder, the ARC Fund, to meet immediate cash requirements at Elandsfontein. The first draw down on the loan for an amount of ZAR 25 million was made on 14 March 2023, a second draw down for an amount of ZAR 90 million was made on 28 March 2023, and a third draw down on the loan of ZAR 30 million was made on 25 April.

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