Avenira Limited has entered into a four-year phosphate rock offtake and Mainland China distribution agreement with Hebang Biotechnology (Hong Kong) Investment Limited for product from the Wonarah Phosphate Project.

The agreement establishes an annual offtake volume of 500,000 wet metric tonnes in each full contract year over an initial four-year term from commercial commencement. Based on the project's expected direct shipping ore production rate of approximately 600,000 tonnes per annum, the arrangement provides a long-term sales pathway for more than 80% of expected annual DSO output.

Hebang will act as Avenira’s exclusive distributor in Mainland China, subject to purchasing at least 90% of the available offtake quantity in each contract year. Avenira retains the flexibility to pursue superior bona fide third-party offers outside Mainland China, subject to Hebang’s right to match. Pricing will operate under a market-referenced framework designed to reflect prevailing market conditions, supported by product qualification and industrial trials.

Major shareholder Hebang Biotechnology has provided multiple debt and equity funding packages since 2024 to support project advancement at Wonarah.

"Securing a long-term offtake framework for 500,000 tonnes per annum represents an important commercial milestone for Wonarah and provides a substantial pathway into the Mainland China market through Hebang's established capabilities and distribution network."

"The agreement combines long-term market access with a market-referenced pricing framework, while preserving Avenira's ability to capture stronger pricing opportunities where available."

— Brett Clark, Deputy Chairman

Commercial commencement and finalisation of product specifications, pricing parameters and the minimum FOB netback mechanism remain subject to conditions precedent. These require satisfaction or waiver by 30 September 2027, including receipt of project approvals and shareholder approval under ASX Listing Rule 10.1 and Chapter 2E of the Corporations Act.

Read the full announcement: Four-Year Wonarah Phosphate Offtake Agreement Secured