CI Resources Limited (ASX: CII) has interests in phosphate assets in Australia.
Phosphate is one of the primary ingredients of agricultural fertilisers, and is expected to undergo a significant increase in demand in the future, underpinned by the need for more intensive agricultural production techniques to support the world growing population, and provide better, healthier diets to people in developing countries.
CI Resources was incorporated on 18 June 1987 (originally operating under the name Asset Backed Holdings Limited), and listed on the Australian Stock Exchange on 24 July 1987.
CI Resources recently completed a Takeover Offer of all shares that it does not already own in Phosphate Resources Limited, a public unlisted Australian company.
Phosphate Resources Limited (PRL) is a leading producer of phosphate rock in the South East Asian region.
PRL's key asset is a 100%-owned phosphate rock mine on Christmas Island, where it has mined and exported phosphate since 1990, and until recently exported approximately 700,000 tonnes of phosphate product each year to Australia, New Zealand, Malaysia, Thailand and Indonesia.
With the successful acquisition of PRL, CI Resources intends to investigate further investment options available in the palm oil plantation business and the phosphate and fertiliser business with a view to making appropriate decisions to enhance shareholder value in the future.