Canadian oil & gas company “Americas Petrogas Inc.” has announced that its Peruvian subsidiary, America Potash Peru S.A., has discovered phosphate rock at the Sechura Desert in Peru.
This discovery was made at Americas Petrogas’ Bayovar Property which stretches over 82,000 hectares. This property is located in an area hosting several phosphates mines such as the one operated by Vale S.A., Mosaic Company, and Mitsui & Co., Ltd, “Fosfatos del Pacifico phosphate deposit” operated by Cementos Pacasmayo, Mitsubishi Corporation” and “Zuari Industries Limited”.
The phosphate beds were found by the company exploration teams during excavation works while digging for oil.
Americas Petrogas has conventional and unconventional shale oil and gas and tight sands oil and gas interests in numerous blocks in the Neuquén Basin of Argentina. The Company has joint venture partners, including ExxonMobil and YPF and owns an 80 pc interest in GrowMax Agri Corp., a private company involved in the exploration for near-surface potash, phosphates and other minerals, and potential development of a fertilizer project in Peru.
Indian Farmers Fertiliser Co-operative Limited (IFFCO) holds 20 pc interest in GrowMax Agri Corp.