The investment company Fosfatos del Pacífico SAC (Fospac) signed a contract that will allow it to exploit the Bayóvar phosphate deposit (Piura) and begin, in a few years, the production of fertilizers based on phosphate rock.
“The signing of this agreement opens up the possibility of using phosphate rock as a fertilizer, since it is a lower-cost alternative for farmers, especially family farmers, who provide food for the country’s more than 33 million inhabitants,” said the Minister of Agrarian Development and Irrigation, Ángel Manero, during the signing of the agreement.
The production of concentrated phosphate rock will be mainly destined for the local market and for export, allowing for the reduction of chemical traces, as well as the production of greenhouse gases and the negative impacts on the health of the population linked to the agricultural sector.
Peru’s demand for diammonium phosphate (the most widely used phosphate fertilizer in the world) is approximately 250,000 tons per year.
“With a more technologically advanced national agriculture, we could demand close to one million tons annually, and this is a great opportunity for national agriculture,” said the President of the Council of Ministers, Gustavo Adrianzén.
The Prime Minister highlighted the work carried out by ProInversión, which is closing projects worth US$8 billion in investment, “something historic for the country.”
Fospac: addendum for a fertilizer plant
Fospac has committed to an investment of US$940 million over 10 years, with a significant economic impact for the State and the San Martín de Sechura farming community due to the agreed deferred compensation, legal royalties and job creation.
The mining concession area is 6,891 hectares; Fospac has surface rights through a contract with the San Martín de Sechura Communal Foundation, Piura, with the participation of ProInversión as intervenor.
The project aims to produce 2.5 million tons of phosphate rock (28.5% P2O5 concentrate) per year, which can be used in the production of phosphoric acid and granular fertilizers.
Source: Larepublica
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