The new production complex will have the objective of producing 2.5 million tons of phosphate rock per year, which can be used in the production of granular fertilizers.
The investment company Fosfatos del Pacífico SAC (Fospac) signed a contract that will allow it to exploit the phosphate deposit of Bayóvar (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, as 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.
Concentrated phosphate rock production will be mainly destined for the local market and for export.which allows for a reduction in 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 (fertilizer (the most widely used phosphate in the world) reaches approximately 250,000 tons per year.
The company 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 peasant community for the agreed deferred compensation, legal royalties and job creation.
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The mining concession area is 6,891 hectares; Fospac has surface rights through a contract with the San Martín de Sechura Communal Foundation, Piura.
Source: Larepublica
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