CRP Executes Mining Services Agreement with Golding

Wednesday 16th November 2022

Chatham Rock Phosphate Limited (CRP) is pleased to announce that it has taken another step forward in bringing its Korella North rock phosphate mine into operation.

CRP has contracted with leading Australian civil and mining contracting firm NRW Holdings Limited (ASX: NWH) for its wholly owned subsidiary Golding Contractors to provide mining services for the development of the Korella North Mine.

CRP, through its Australian company Korella Fertilizers, has since earlier this year been discussing with Golding the provision of mining and exploration services in the development of its Korella North, Korella Central and Korella South phosphate projects located adjacent to Phosphate Hill, in North-West Queensland.

Under the agreement Golding will provide mining services to facilitate the granting of a mining lease at Korella North (EMP 28589) and statutory services in the exploration of Korella South (EMP28187).

The Chatham Rock Phosphate Limited mining services agreement adds to several contract wins announced by Golding over the past year including:

• A five-year contract extension at the Phosphate Hill Mine, Queensland, Australia, to extend the Golding operations out to September 2026;

• A Contract extension at the Curragh Coal Mine in central Queensland, Australia, out to December 2026.

• A five & half year contract extension at the Baralaba North Mine central Queensland, Australia; and

• A $52 million rail civil construction package and a $15 million bulk earthworks, drainage and roadworks package for the Olive Downs Mine in the Bowen Basin, Queensland, Australia.

About Korella Fertilizers

Korella Fertilizers is a Cloncurry, NW Queensland based operation for international phosphate company Chatham Rock Phosphate Limited.

With its Korella phosphate sourced south of Cloncurry at Phosphate Hill, Korella Fertilizers is establishing a distribution hub and a MCP manufacturing plant in Cloncurry to service its rural customer base, especially those in northern Australia.

In parallel the company is working on plans for a 2Mtpa bulk phosphate rail loading facility at Korella North, Phosphate Hill and a 5Mtpa ship-loader in the Port of Townsville.

For further information please contact:

Chris Castle, President and Chief Executive Officer

Chatham Rock Phosphate Limited

64 21 55 81 85 or chris@crpl.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.

CRP Executes Mining Services Agreement with Golding Contractors

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