WELLINGTON, New Zealand, Nov. 23, 2017 /CNW/ - Chatham Rock Phosphate Limited (TSXV: "NZP" and NZAX: "CRP" or the "Company") estimates that its process of recovering rock phosphate from offshore New Zealand will reduce annual carbon emissions by 76,000 tonnes compared with importing the rock from Morocco. This reduction of 95% of the present emission level equates to immediately taking at least 19,000 petrol driven vehicles off the roads.
This is significant in the context that there are approximately 5,000 electric vehicles registered now and the national target is 64,000 by the end of 2021.
Further carbon emission savings will result when Chatham rock phosphate is applied to the land, as being a slow release fertiliser it can be applied less frequently.
The other directly beneficial environmental effects of using Chatham rock phosphate that we have advised on numerous occasions are reduced run off, improved water quality, a healthier soil profile, and much lower cadmium being applied to soils.
Neither the Exchange, its Regulation Service Provider (as that term is defined under the policies of the Exchange), or New Zealand Exchange 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.
SOURCE Chatham Rock Phosphate
For further information: Chris Castle, President and Chief Executive Officer, Chatham Rock Phosphate Limited, 64 21 55 81 85 or [email protected]