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Martison phosphate project PEA due to be completed in mid-March

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World Fertilizer,

Fox River Resources Corp. has given an update on its currently underway National Instrument (NI) 43-101 preliminary economic assessment (PEA) study on the company’s 100% owned Martison phosphate project, located near Hearst, Ontario, Canada.

The objectives of the PEA include:

  • Completion of an independent PEA-level engineering analysis of the project with the aim of producing phosphate fertilizer products from a fully integrated facility;
  • Providing an updated NI 43-101 mineral resource estimate;
  • Providing an estimate of the potential economic value of the project;
  • Providing an estimate of the project's capital costs, operating costs, as well as sustaining capital costs;
  • Providing a conceptual economic model of the project over the life-of-mine.

As a result of a positive marketing study outlining the significant demand growth in the Western Canadian phosphate markets over the last 10 years, the design of the Martison fully integrated phosphate fertilizer complex is being engineered with the following parameters.

Mine site, located approximately 70 km north of Hearst

  • An open pit truck and shovel operation and all necessary ancillary infrastructure capable of producing 1 420 000 t of 37% P2O5 concentrate per annum
  • A beneficiation plant designed to process over 4 000 000 tpy of ore
  • An 86 km slurry pipeline for the transportation of the concentrate from the mine site to the fertilizer complex located near Hearst, ON

Fertilizer conversion complex, located approximately 20 km west of Hearst

  • 500 000 t P2O5 phosphoric acid facility
  • 150 000 t P2O5 super phosphoric acid facility
  • 430 000 t sulfur conversion plant with cogeneration capacity to provide all steam and electrical power to the complete fertilizer complex
  • Granulation plant with the capacity for producing 730 000 t of ammoniated phosphates
  • 125 000 t dry fertilizer storage and load out facility
  • Railyard and infrastructure with inbound and outbound capacity of approximately 17 000 railcars per annum
  • Fertilizer product mix, 950 000 tpy capacity

  • 730 000 dry tpy of ammoniated phosphate consisting of 480 000 tpy of monoammonium phosphate (MAP) and 250 000 tpy of nitrogen-phosphate fertilizer plus sulfur (NPS)
  • 220 000 liquid tpy of super phosphoric acid (SPA) basis 68% P2O5
  • The company expects the delivery of the PEA to be slightly delayed, with completion now scheduled for mid-March, which is approximately six weeks later than previous guidance of January 2022.

    “The obvious complexities involved in a project of this magnitude have contributed to various time delays in completing the PEA,” stated Stephen Case, CEO of the company. “While no one likes delays, it is imperative to us that this is a thorough, realistic and defensible study that will pass the scrutiny of the global fertilizer companies. The Company remains fully funded through completion of the study, and we look forward to presenting the results.”

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