Australian mining firm Centrex (ASX:CXM) has agreed to supply its Ardmore phosphate to New Zealand-based Ballance Agri-Nutrients for an initial 30,000 tonnes from April, with a supply figure to be negotiated for the subsequent two years.
Farmer-owned co-operative Ballance, which manufactures, supplies and sells fertilisers throughout the South Pacific nation, had undertaken testing on the phosphate rock and was happy with the performance.
Centrex says the agreement follows its deal with Samsung C&T announced in February.
Centrex' share price is up 4%.