Why Morocco Controls 70% of the World's Phosphate | Daniel Gleeson - MD Canadian Phosphate (ASX:CP8)
LEVRDShow Notes
In this ep of LEVRD, Matt sits down with Canadian Phosphate (ASX: CP8) Managing Director Daniel Gleeson to discuss one of the most overlooked critical minerals markets in the world – phosphate.
While most investors associate phosphate with fertiliser, the sector is increasingly attracting attention due to food security concerns, geopolitical supply concentration and the growing demand for lithium iron phosphate (LFP) batteries.
The discussion explores why Morocco and Western Sahara control the majority of the world's phosphate reserves, why Canada remains entirely dependent on phosphate imports despite being a global fertiliser powerhouse, and what this means for future North American supply chains.
We also take a deep dive into Canadian Phosphate's three North American projects:
- Wapiti (British Columbia)
- Fernie (British Columbia)
- Diamond Mountain (Utah)
Topics discussed include:
- The global phosphate market and major producers
- Why Morocco dominates phosphate supply
- Food security and geopolitical supply risks
- Fertiliser demand versus battery demand
- Understanding NPK and the importance of phosphorus in agriculture
- North American phosphate production and import dependency
- Wapiti's exploration target and upcoming 56-hole drill program
- How sedimentary phosphate deposits differ from hard rock projects
- Fernie's potential as an early production opportunity
- The acquisition of the Diamond Mountain Project in Utah
- How CP8's projects compare with global phosphate deposits
- Processing pathways from crushed rock fertiliser through to battery-grade products
- Metallurgy, recoveries and key project risks
- Potential future offtake opportunities with fertiliser and battery manufacturers
- The long-term pathway from exploration through to development
If you're interested in critical minerals, fertiliser markets, battery materials, food security and emerging North American resource opportunities, this interview provides a comprehensive overview of a sector that receives far less attention than lithium, copper or rare earths.
(0:00) PREVIEW
(0:58) Phosphate now in flavour
(3:00) Rock Phosphate industry
(5:11) Morocco's control
(6:00) Fertiliser makeup
(11:48) Why 3 projects?
(16:26) Wapiti exploration target
(24:00) Staged processing flowsheet
(31:50) Who are the offtakers and potential partners
(35:50) Balance sheet and next 12 months
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