CRP Exec Director Colin Randall Details Growth Strategy

NEWS RELEASE 22- 13 July 25, 2022



CHATHAM’S EXECUTIVE DIRECTOR COLIN RANDALL
DETAILS ROCK PHOSPHATE GROWTH STRATEGY

WELLINGTON, New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX:
“CRP” or the “Company") is pleased to share this interview with Executive Director Colin
Randall which articulates Chatham’s growth strategy.

https://www.rockphosphate.co.nz/news/2022/7/21/media-coverage-proactive-investors-chatham-
rock-phosphate-aims-to-become-a-global-phosphate-exporter

The Chatham Renaissance

Our decision to participate in this interview and to circulate it is only a small part of
Chatham’s present drive to inform world markets about our Company’s renaissance in the
last two years.

During that period Chatham has transformed from a single project company facing an
uncertain and expensive permitting hurdle to a rapidly expanding group of projects much
closer to generating operating cash flows with prospects further boosted by phosphate
prices at 10-year highs.

The acquisition of Avenir Makatea was the first step in the Company’s strategy to build an
international phosphate mining and trading house with a focus on low cadmium, organic
phosphate.

The Makatea Project in French Polynesia is planned to produce 250,000 tpa with an
expected start date of 2024.

The second step was the pending acquisition of the fully permitted Korella phosphate mine
in Queensland, Australia with its ability to generate positive cash flows arising from the sale
of an existing stockpile.

The Korella Mine is planned to produce 250,000 tpa commencing in 2023.

The third step was the application for an exploration permit over a substantial area
adjacent to the Korella phosphate mine to potentially increase phosphate reserves and
associated rare earths.

The fourth step was the decision to take another value-adding step to its phosphate
production with planned manufacturing of Monocalcium Phosphate (MCP) at Korella South.
The MCP plant is planned to produce 30,000 tpa of MCP starting in 2025.

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The fifth step, announced in May 2022, was the commencement of a scoping study for an
export mine based on its Korella South exploration area.

This followed significant interest from North Asia based phosphate buyers for a high-grade
phosphate rock supply sourced from Korella South.

This, combined with the developing acute shortage of low cadmium phosphate in Europe
and soaring international rock phosphate prices, has led to the decision to investigate the
feasibility of a significant increase in production. This export focussed production and sale
of phosphate from Korella South would run in parallel with projected domestic annual sales
of 250,000 tonnes of rock phosphate from the Korella Mine.

The sixth step was the announcement, also in May this year, that CRP subsidiary Avenir
Makatea Pty, trading as Korella Terminals, had commenced a scoping study into a stand-
alone 5Mtpa phosphate/fertilizer export facility in the Port of Townsville (Korella Terminal).

This study is being undertaken by an assembled team of well-seasoned industry specialists
who bring together years of experience in logistics, major capital works construction, port
operations/construction, and financing of new major port/rail facilities for bulk
commodities.

Further initiatives including the trading of rock phosphate and establishing rare earth
related strategic partnerships are being progressively announced as they occur.

The presence of rare earth elements within Korella and potentially Korella South provides
the impetus for the Company’s wholly owned Pacific Rare Earths Limited to pursue
strategic partnerships to beneficiate REE from these two projects.

2022 Shareholder Meeting

This is proposed to be held at Chatham’s Wellington headquarters at Level 1, 93 The Terrace
at 5pm on November 17, 2022.

For more information contact Chris Castle on 021 558 185 or chris@widespread.co.nz or
check out www.rockphosphate.co.nz

Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies of the
Exchange), or NZX Limited has in any way passed upon the merits of the Transaction and associated
transactions, and has neither approved nor disapproved of the contents of this press release.