Our business strategies and future plans for the growth and expansion of our business are described below:

1. Increasing phosphate rock output production through further resource definition and continuing exploration activities

   Our Group intends to carry out further mining activities, including exploration work such as geological mapping, rock sampling, drilling activities, excavating and tunnelling, collection and analysis of exploration data, to convert the amount of phosphate under inferred resources to measured and indicated resources, as well as to increase new measured and inferred resources within specified areas permitted under our exploration rights. We intend to do so by engaging a professional geology company in assisting us to convert our existing exploration rights to mining rights. This will help to increase our Group’s phosphate resources and enable us to plan our mining operations and downstream processing operations more efficiently.

2. Enhancing and increasing capacity of our operations

   To meet the anticipated increase in demand for our phosphate rock output and phosphate-based chemical products in the future, we intend to improve our efficiencies by (i) enhancing our existing mining operations; and (ii) enhancing and increasing our processing and manufacturing capabilities, through the construction of new and technologically advanced facilities and optimising our processing technologies to improve production efficiency.

3. Expansion through acquisitions, joint ventures and strategic alliances

   We intend to explore and develop new business opportunities in countries or regions where we currently have a business presence, as well as in countries and regions where we do not already have a business presence. Through acquisitions, joint ventures and strategic alliances, our Group hopes to strengthen its market position, value-add and expand into new markets.

4. Increasing our phosphate-based chemical products portfolio

   We intend to diversify our downstream products portfolio by developing and offering to our customers other phosphate-based chemical products. We intend to develop other products which we deem commercially viable for our Group using our existing facilities.