Chatham Rock Phosphate Limited operates as a junior mineral development company focused on the exploration, development, and production of rock phosphate. The company holds an offshore mining permit for the Chatham Rise project, situated about 450 kilometers off the east coast of New Zealand, covering an area of 820 square kilometers with seabed deposits of rock phosphate, rare earths, and other valuable minerals. It also operates the Makatea Phosphate Project on Makatea Island, French Polynesia, which combines phosphate mining and environmental rehabilitation. The company aims to supply environmentally friendly, low-cadmium direct application phosphate fertiliser primarily for the agricultural sector in New Zealand and globally, emphasizing sustainable farming practices and reduced environmental impact. Chatham Rock Phosphate was founded in 2004 and is headquartered in Wellington, New Zealand.
In terms of recent developments, Chatham Rock Phosphate entered a non-binding term sheet with a third party in 2025 for the proposed acquisition of an initial 15% interest in a newly formed entity owning the Chatham Rise project. The potential transaction could lead to the acquirer earning up to a 75% stake through an earn-in program, while Chatham would retain a 25% interest and a 2% royalty. This agreement marks a significant strategic shift aimed at securing the capital required to advance the Chatham Rise project, including reapplying for marine environmental consent, which the company has pursued since 2015. The company also continues to focus on diversifying its phosphate product mix, developing extraction methods for rare earth elements in its permit area, and maintaining leadership in the marine minerals sector. These developments highlight the company's strategic effort to commercialize New Zealand’s only material rock phosphate resource while expanding its product offerings and market reach.