Mandalay Extends High-Grade True Blue Discovery and Deploys Additional Drill Rigs at Costerfield Gold-Antimony Mine
Highlights:
Note: Further intercept details including significant intercepts within composite intervals and AuEq assumptions can be found in the Appendix. ETW refers to the Estimated True Width of the intercept.
Frazer Bourchier, President and CEO of Mandalay, commented:
'Given Costerfield's ability to efficiently mine narrow 1.5-metre widths, the high-grade results from True Blue are incredibly exciting and offer potential to extend the mine's life. Beyond True Blue, we're also seeing encouraging results across other parts of the operation, underscoring the depth of opportunity within the Costerfield district. As I prepare to join the Alkane Board, I'm especially enthusiastic about showcasing Costerfield's exceptional exploration success to the broader Australian investment community.'
Chris Davis, VP of Exploration and Operational Geology, commented:
'True Blue remains the primary focus of regional exploration at Costerfield. Building on the encouraging results in January of this year (see
January 28
th
press release
), drilling has ramped up with three diamond drill rigs now turning on two programs with plans to source additional rigs. The first is aimed at extending the high-grade central area and defining its structural framework. Encouragingly, this program intersected a new parallel vein approximately 40 metres from the target and identified apparent offset extensions to the current mineral resource, highlighting additional growth potential while adding credibility to our initial exploration extent and formation hypothesis.
'The second phase narrows focus to the upper portion of the high-grade core where infill drilling is building confidence in structure and grade continuity. While still ongoing, every single exploration drill hole has intersected veining on target with grades in line with expectations. These results will guide a decision on advancing an exploration drive to support deeper drilling.
'Infill drilling is expected to be complete in Q3 while broader mineral extent drilling will continue for the full year. While economic evaluation is ongoing from the infill drilling, exploration will continue across the parallel and offset panels identified in the 2025 program, supporting the broader case for growth across the Costerfield district.'
True Blue Drilling Update
The True Blue prospect is located approximately 2 km west of the Central Corridor (historic and current mining at Costerfield) and is defined at surface by a 4 km-long soil geochemical anomaly, comparable to the surface signature of the main production areas. To date, drill testing has been conducted in only a limited portion of the anomaly, with the focus on an area 600 m in strike length (Figure 1).
Figure 1. Geological Map, Plan View, showing True Blue and Central Corridor surface geochemical anomalism with diamond drilling on True Blue since February 2025.
In January 2025, Mandalay issued an exploration update announcing several very high-grade drill intercepts at True Blue, the best of which was 578.0 g/t gold and 20.5% antimony over 0.47 m (ETW 0.33 m) in drillhole TB031 (see
January 28
th
release
). Mandalay further released a Mineral Resources update in February 2025 integrating these results into an Inferred Resource of 145,000 tonnes at 13.1g/t gold and 3.1% antimony (see
February 20
th
release
).
Since January's drilling update, an additional nineteen diamond drill holes have been completed at True Blue with the overall program ongoing. Eleven of these have been targeted towards defining the structural framework of True Blue and the rest have been dedicated to infill with the intent of gaining confidence on grade continuity within the dominant veins of the deposit.
Structural Definition Drilling
The initial phase of follow-up drilling at True Blue focused on delineating the upper bound of the high-grade domain and defining structural offsets and mineralization characteristics along strike. The first northern extension hole (TB034A) intersected a wide zone of antimony and gold-rich veining (Figure 2), approximately 30 metres east of the anticipated target position. This intersection was correlated with a nearby, well-developed mineralized vein intercept in drillhole TB017, drilled in 2023.
Over the course of the program it became clear that the high-grade mineralization encountered in TB034 did not align with the previously drilled high-grade domain but instead sat on a sub-parallel structure approximately 30 metres to the east. It was also observed that the main True Blue structure persisted further to the north, indicating that the intercept in TB034 is not part of a flexure in the main vein, but rather an additional vein altogether.
The segmentation of grade between parallel structures along strike is a common feature of other Costerfield lodes most prominently seen in the Shepherd vein system below Youle.
Figure 2. Additional parallel vein intercept in drillhole TB034A grading 11.7g/t gold and 6.5% antimony over 4.88 m (ETW 2.06 m).
In addition to identifying a secondary vein, the program has also revealed that the apparent upper limit of the targeted panel is defined by its interaction with a west-dipping thrust fault. This newly named
Wombat Fault
exploits an early, bedding-parallel structure with distinct characteristics that can be easily correlated across the deposit. While veining has been observed above this structure, it occurs further to the east.
Drillhole TB038 intersected a wide zone of poorly mineralized veining approximately 100m above and to the east of the main target zone, situated between the new discovery and the historic True Blue workings—under which mineralization was initially confirmed in 2021.
The base of the panel is interpreted to be the
Komodo Fault
, also a west-dipping thrust fault. Unlike the Wombat Fault, however, mineralization has been observed both below and to the west—as reported in January—and now also to the east. Drillhole TB037 was extended to the east and into the footwall of the Komodo Fault, where it intersected a 22-metre (drilled width) array of mineralized vertical veining (Figure 4).
If the typical westward progression of veining seen within Costerfield's Central Corridor can be applied to True Blue, this suggests further potential exists above the Komodo Fault and to the east of current exploration efforts.
Figure 3. Cross section through 7450N of the True Blue deposit showing the relationship between the main and eastern structures, the position of panel-bounding thrust faults; and the relative position of other mineralized vein systems intersected including the veining observed below the Komodo Fault in TB037.
To the north of the high-grade domain and the newly discovered secondary vein, a fault—interpreted to be a northeast-trending cross-cutting splay from the Wombat Fault—has been found to disrupt the continuity of the modelled veining. This has led to a reinterpretation of the area. While low-grade intercepts do exist further north, the apparent offset positions remain under-tested and open.
Figure 4. Longitudinal section of the True Blue drilling. Note that additional mineralized intercepts have been observed offset from the main vein, both above the Wombat and below the Komodo Faults as well as within parallel structures. These associated intercepts are denoted with a triangle. Drill intercepts not previously announced are annotated with composites over 2.0 g/t AuEq when diluted to 1.8 m.
Infill Drilling
Following the deposit framework drilling program and positive results of the mineral resource estimation released in February, infill drilling commenced within the upper portion of the high grade pannel. This drilling aims to provide further confidence around structural and grade continuity and ultimately provide the basis of a decision develop an exploration drive from the current Costerfield infrastructure. To date eight holes have been drilled in this program (figure 4).
Encouragingly, this drilling has demonstrated clear structural continuity, with veining successfully intersected at the targeted depths in each hole. Mineralization of the main True Blue veining is dominated by stibnite, with relatively low amounts of quartz compared to Youle and Shepherd. Gold grades remain high, with visible gold observed within the stibnite veining. Below is the intercept from TB044, where a series of gold-bearing stibnite veins can be seen alongside corresponding high gold values (figure 5).
Figure 5. Main True Blue intercept in drillhole TB044 grading 19.9g/t gold and 2.0% antimony over 3.10 m (ETW 2.37 m).
Geological Modeling
Continued drilling at True Blue is reinforcing Mandalay's geological model of the deposit and its similarity to existing deposits to the east in the Costerfield Main Corridor. Mineralization at True Blue is hosted primarily within subvertical veins that exploit faulting and cleavage developed within a large anticline, which has been truncated and progressively offset westward by a series of regional-scale thrust faults.
From the drilling conducted to date, the structural continuity of mineralization at True Blue appears remarkably consistent across the drill-tested area. This consistency is also a defining feature of the Costerfield Main Corridor and is currently attributed to the rheological homogeneity of the Costerfield Siltstone, which is present in both areas.
The truncating west-dipping thrust faults, prominent at both True Blue and within the Costerfield Main Corridor, are recognized for forming grade panels. These faults have repeatedly been shown not to bound the deposits and, in some cases—most notably at Youle—can host high-grade mineralization themselves when conditions are favourable.
This understanding, along with observed continuation of mineralization above the Wombat Fault and below the Komodo Fault, strongly suggests the potential for additional high-grade panels adjacent to those currently known.
In September 2024 a 2D active seismic survey was conducted at Costerfield. This survey extended two lines that were part of a previous 2022 seismic program over Mandalay's tenements. In addition to providing resolution on the Costerfield Main Corridor's structural architecture at depth, the survey was also able to provide significant additional context around the True Blue Corridor. The survey showed the True Blue deposit to be located in the immediate footwall of a regional-scale thrust that is traceable to a depth of at least two kilometres, with additional footwall splays passing below the known mineralization. This large fault is interpreted to correlate to the Wombat Fault observed in drilling, with the Komodo Fault joining it at depth west of the deposit. The seismic survey currently supports Mandalay's interpretation derived from surface mapping and drilling. The proximity to this structure may, by way of providing a conduit for high-volume fluid flow from depth, give some explanation for the well-developed white mica and carbonate alteration surrounding the deposit, which appears to be more intense than around the Costerfield Main Corridor deposits (figure 6).
Figure 6. Perspective section looking northeast showing an interpolation of the recent seismic data and regional geological model.
Next Steps
With encouraging results coming from the central panel, infill drilling will continue into Q3. Upon completion, these data will form the basis of an internal economic modelling exercise that will inform a decision to extend an exploration drive from the current underground infrastructure. This drive will allow for more detailed and cost-effective deep drilling, as well as provide a potential future extraction point from True Blue.
In Q3, Mandalay expects to refocus its exploration efforts on extending True Blue, following promising intercepts and the potential for untested offset panels along strike and up-dip of the main panel. Mandalay anticipates providing a further update in Q4 based on economic modeling outcomes and continued drilling progress.
Drilling and Assaying
All diamond drill core was logged and sampled by Costerfield geologists or contracted geologists with significant industry experience who worked under Costerfield geologist's oversight. All samples were sent to On Site Laboratory Services (OSLS) in Bendigo, Victoria, Australia, for sample preparation and analysis by fire assay for gold, and Atomic Absorption Spectroscopy (AAS) for antimony. Site geological and metallurgical personnel have implemented a QA/QC procedure that includes systematic submission of standard reference materials and blanks within batches of drill and face samples submitted for assay. Costerfield specific reference materials produced from Costerfield ore have been prepared and certified by OREAS, a specialist laboratory quality control consultancy. See Technical Report entitled 'Costerfield Operation, Victoria, Australia NI 43-101 Report' dated March 30, 2025, available on SEDAR (
www.sedar.com
) for a complete description of drilling, sampling, and assaying procedures.
Qualified Person:
Chris Davis, Vice President of Operational Geology and Exploration at Mandalay Resources, is a Chartered Professional of the Australasian Institute of Mining and Metallurgy (MAusIMM CP(Geo)), as well as a Member of the Australian Institute of Geoscientists (MAIG) and a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical and scientific information provided in this release.
For Further Information
Frazer Bourchier
Director, President and Chief Executive Officer
Edison Nguyen
Director, Business Valuations and Investor Relations
Contact:
647.258.9722
About Mandalay Resources Corporation
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate cashflow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.
Forward-Looking Statements:
This news release contains 'forward-looking statements' within the meaning of applicable securities
laws,
including
statements
regarding
the
exploration
and
development
potential
of the
True Blue discover
(Costerfield).
Readers
are
cautioned
not
to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things,
changes
in
commodity
prices
and
general
market
and
economic
conditions.
The
factors identified
above
are
not
intended
to
represent
a
complete
list
of
the
factors
that
could
affect Mandalay.
A
description
of
additional
risks
that
could
result
in
actual
results
and
developments differing
from
those
contemplated
by
forward-looking
statements
in
this
news
release
can
be found
under
the
heading
'Risk
Factors'
in
Mandalay's
annual
information
form
dated
March 30, 2025, a copy of which is available under Mandalay's profile at
www.sedarplus.com.
In addition, there can be no assurance that any inferred resources that are discovered as a result of additional
drilling
will
ever
be
upgraded
to
proven
or
probable
reserves.
Although
Mandalay
has attempted to identify important factors that could cause actual actions, events or results to differ
materially
from
those
described
in
forward-looking
statements,
there
may
be
other
factors that
cause
actions,
events
or
results
not
to
be
as
anticipated,
estimated
or
intended.
There
can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future
events
could
differ
materially
from
those
anticipated
in
such
statements.
Accordingly, readers
should
not
place
undue
reliance
on
forward-looking
statements.
Appendix
Table 1. Significant Intercepts from drilling program.
Notes
1. The AuEq (gold equivalent) grade is calculated using the following formula:
Prices and recoveries used: Au $/oz = 2,500; Sb $/t = 19,000; Au Recovery = 91% and; Sb Recovery = 92%
2. LLD signifies an undetectable amount of antimony. Detection limit for the analysis used is 0.01%
Table 4. Drill Hole Collar Details
Notes:
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f9d5416f-aa06-48e7-9d9f-524adbf624e5
https://www.globenewswire.com/NewsRoom/AttachmentNg/42e1c99c-8ab6-4a33-90d7-5c39b294dc4e
https://www.globenewswire.com/NewsRoom/AttachmentNg/35405bbb-4755-4d0b-ab01-43c73028fa3c
https://www.globenewswire.com/NewsRoom/AttachmentNg/17ede188-4477-4b41-acff-da7dc52ab651
https://www.globenewswire.com/NewsRoom/AttachmentNg/42dcf97f-7157-4c94-a891-567cfa2c4861
https://www.globenewswire.com/NewsRoom/AttachmentNg/56045bbf-df13-45c3-92c6-bb240755b7b1
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
33 minutes ago
- Hamilton Spectator
Absorb Software's 2025 Upskilling Report Reveals Execution Gap, Underscores Strategic Learning as Key to Business Growth
CALGARY, Alberta, July 23, 2025 (GLOBE NEWSWIRE) — Absorb Software , the leading global AI-driven learning platform provider, today released its 2025 Inside the State of Upskilling report at a pivotal moment for HR, learning and development (L&D). The findings reveal a growing divide between intent and impact: while upskilling is widely acknowledged as critical to performance and resilience, most organizations struggle to implement it effectively at scale. The 2025 report offers a sharp look at the execution gap in HR and L&D. While upskilling has overtaken compliance as the top L&D priority, the report finds that most programs remain misaligned with business needs—limited by manual processes, outdated infrastructure, and fragmented ownership. Based on a survey of and insights from over 1,300 learning and HR professionals, the report examines what's working, what's not, and what's next in workforce upskilling—offering a practical framework for turning learning into a business advantage. 'Upskilling is no longer a nice-to-have—it's a business imperative,' said Kimberly Williams, CEO of Absorb Software. 'But intent alone doesn't move the needle. What's needed now is strategic learning: a system built to scale, adapt, and prove impact. 'At Absorb, we're meeting this moment with purpose-built innovation. Our AI-powered Strategic Learning System delivers scalable, hyper-personalized, and measurable learning experiences that drive real business impact—helping our customers close skills gaps faster, boost engagement, and align learning with strategic priorities.' According to the 2025 report, several macro-trends are shaping the future of L&D: As AI and Complexity Rise, Strategic Learning Takes Center Stage As hybrid work, rapid technological change, and evolving skill demands reshape the workforce, organizations face growing pressure to deliver scalable yet tailored learning. While most recognize the strategic importance of upskilling, they struggle with implementation due to each organization's unique requirements. Many rely on static tools and disconnected systems that fail to adapt training to real-world business needs—especially across diverse and evolving job roles. Even when upskilling programs are eventually launched, sustained adoption often lags—underscoring the need for systems that can personalize learning at scale and evolve with the business. Absorb's Strategic Learning System (SLS) is purpose-built to solve this challenge, helping organizations move from fragmented training efforts to connected, outcome-driven learning. Powered by AI, SLS maps critical skills, identifies individual gaps, and generates personalized learning paths tailored to specific roles—helping teams upskill at scale, even across the long tail of specialized roles. 'AI is allowing us to finally enable upskilling at scale,' said Saravana Sivanandham, Chief Marketing Officer at Absorb Software. 'Upskilling isn't a one-size-fits-all solution—that's why many past efforts have fallen short. At Absorb, we're using AI to gain a deeper understanding of the unique roles, skills, competencies, and learning paths that vary across organizations. Combined with our Strategic Learning Playbooks, this AI-driven approach helps overcome executional challenges and ensures upskilling efforts deliver measurable impact for our customers.' Strategic Learning Playbooks (SLPs) are aimed at providing a blueprint to guide the design, implementation, execution, and measurement of learning programs across a variety of learning use cases in an organization. The Path Forward: From Reactive to Strategic Learning These shifts mark a turning point for L&D. The days of disconnected programs and generic content are giving way to strategic, outcome-driven systems—powered by AI and built for scale. For organizations ready to modernize, the opportunity has never been clearer: 'Absorb's vision is to help organizations turn skills into a strategic advantage,' added Sivanandham. 'Today's learning programs must go beyond intent—they must deliver impact. That means aligning learning with business outcomes, empowering learners with the right tools, and using data to scale what works. Our position as the fastest-growing LMS provider—scaling at three times the pace of our nearest competitor—isn't just about numbers. It reflects a market shift toward measurable, AI-powered learning that drives real business results. Absorb is proud to lead that transformation.' To access the full report, please visit 2025 Inside the State of Upskilling report. Absorb Software Absorb Software is the leading global AI-driven learning platform provider, helping organizations unlock the full potential of their workforce. With its innovative Strategic Learning Systems (SLS) approach, Absorb empowers businesses to align learning with strategic goals, driving measurable impact and workforce agility. The Absorb LMS platform delivers personalized, scalable, and engaging learning experiences for employees, customers, and partners worldwide. Trusted by over 3,400 organizations and 34 million users, Absorb is redefining the future of workplace learning through cutting-edge AI, seamless integrations, and an unwavering commitment to innovation. Media Contact Zamira Tasneem Senior Communications Manager
Yahoo
an hour ago
- Yahoo
Ammonium Chloride Market Size to Hit USD 3.52 Billion by 2034
According to Towards Chem and Materials, the ammonium chloride market size was valued at USD 2.19 billion in 2024, grew to USD 2.30 billion in 2025, and is expected to hit around USD 3.52 billion by 2034, growing at a compound annual growth rate (CAGR) of 4.87% over the forecast period from 2025 to 2034. Ottawa, July 23, 2025 (GLOBE NEWSWIRE) -- According to new research report, the global ammonium chloride market size is calculated at USD 2.3 billion in 2025 and is expected to reach around USD 3.52 billion by 2034, growing at a CAGR of 4.87% for the forecasted period. A study published by Towards chem and Materials a sister firm of Precedence Research. Get All the Details in Our Solutions –Download Sample: The market is growing steadily, driven by increased use in fertilizers, especially rice cultivation, and growing adoption in pharmaceuticals, textiles, and battery production. Ammonium chloride is an inorganic salt, a nitrogen source in fertilizers, particularly fertilizer for rice or wheat crops. It also has applications in pharmaceuticals, textiles, metalwork and batteries. The market is being driven primarily by increased demand for agricultural purposes, driven by a need for more food production, particularly in the Asia-Pacific region. Additionally, demand driven by the increased use of ammonium chloride in formulations for electrolyte dry cell batteries and use as a flux for metal processing is contributing to growth in the market. The potential for some slow-down in growth exists due to potential for future environmental regulations on the use of nitrogen fertilizers. The ammonium chloride market continues to be steady with increased interest in high-purity grades for use in industrial and specialty applications. Key Takeaways The Asia Pacific ammonium chloride market size was estimated at USD 2.19 billion in 2024 and is projected to reach USD 3.52 billion by 2034, growing at a CAGR of 4.87% from 2025 to 2034. Asia Pacific ammonium chloride industry dominated the global market in 2024, accounting for the largest share of 52.88% of the overall revenue. By grade, the agriculture grade segment held the largest revenue share of 29.85% in 2024. By grade, the food grade segment is anticipated to witness a highest CAGR of 4.95% from 2025 to 2033. By application, the fertilizer segment dominated the market in 2024 with the largest revenue share of 26.88%. By application, the medical/pharmaceutical segment is expected to showcase the highest CAGR of 3.96% during the forecast period. Explore Strategic Figures & Forecasts – Access the Databook | Immediate Delivery Available: Ammonium Chloride Market Report Scope Report Attribute Details Market size value in 2025 USD 2.30 Billion Revenue forecast in 2034 USD 3.52 Billion Growth rate CAGR of 4.87% from 2025 to 2034 Actual data 2019 - 2024 Forecast period 2025 - 2034 Segments covered By Grade, By Application, By Region Dominant Region Asia Pacific Key companies profiled BASF SE (Germany), The Dallas Group of America (U.S.), Central Glass Co., Ltd (Japan), Tuticorin Alkali Chemicals And Fertilizers Limited (India), Tinco Chemicals Private Limited (India), Hubei Yihua Chemical Industry Co Ltd (China), Jinshan Chemical (China), CNSG (China), HEBANG (China), Tianjin Bohua YongLi Chemical (China), Shannxi Xinghua (China), Shijiazhuang Shuanglian Chemical (China), Liuzhou Chemical (China), Hangzhou Longshan Chemical (China), Sichuan Guangzhou (China) Ammonium Chloride Market Major Trends? Increased Demand in Agriculture- Ammonium chloride is often used as a nitrogen rich fertilizer, particularly with rice farming in Asian countries. It has a low market price, high nitrogen percentage, and is a mix of various biogenetic chemicals found in many soils. It is also ideal for alkaline soils which have been changing in land use to produce more rice. Expansion in Battery Applications- Ammonium chloride's popularity is increasing as the use of dry cell batteries is growing, owing to the increasing demand for portable electronics. This trend is increasing the demand for high purity ammonium chloride. Increased Demand in Metal Finishing- Ammonium chloride is widely used as a flux in galvanizing and soldering applications. Rising demand for surface treatments in the construction and automotive industries is driving the need for metal surface treatment chemicals. Increase in Pharmaceutical Applications- Demand is growing for ammonium chloride's use as an expectorant in cough medicine, and as an acidity regulator in pharmaceutical formulations. The growth in access to healthcare and pharmaceutical manufacturing in the developing world are driving growth. Invest in Premium Global Insights Immediate Delivery Available@ AI Advancement of Ammonium Chloride Production via Smarter Chemical Engineering Artificial intelligence is penetrating the ammonium chloride production landscape in a meaningful way, especially with advances in AI-enabled catalyst design, and the automation of processes. In early 2024, researchers employed an AI framework that combined a large language model, Bayesian optimization, and active learning to accelerate catalyst development to synthesize ammonia—each of these technologies can be directly applied to optimize precursors such as ammonium chloride in fertilizer and pharmaceutical-grade formulations. The May 2025 release of AutoChemSchematic AI allows for the auto-generation of simulator-tested process flow and instrumentation diagrams (PFDs/PIDs) for over 1,020 industrial chemicals, enabling a faster, more streamlined, AI-assisted scale‑up of ammonium chloride production processes. While there are currently no publicly available examples of its applications in ammonium chloride, there is clear momentum to follow these developments in an effort to improve yield, resource use efficiency and safety in its production pipeline. Digitalization of chemical engineering workflows is exciting researchers and manufactures and supporting engagement of these digital tools to improve historical chemical workflows and decrease environmental footprints. Ammonium Chloride Market Growth Factor Is Increasing Use Of Ammonium Chloride In Livestock Feed Influencing Market Growth? An essential driver post-2023 for ammonium chloride will be its increasing use in livestock nutrition such as feed for cattle, poultry, and dairy. Ammonium chloride is added as a urinary acidifier for livestock production to treat urolithiasis (stones) in the urinary system of livestock. In 2023, the U.S. Food and Drug Administration (FDA) re-affirmed its approval of ammonium chloride for use as a feed additive, if it is used properly was classified as Generally Recognized as Safe (GRAS). The European Food Safety Authority (EFSA) also affirmed in 2023 feed additive consisting of ammonium chloride (Amoklor™) was safe and efficacious in ruminants and poultry, so it is no surprise that subsequently it was being used more widely in livestock production, particularly in regions where reducing the reliance on antibiotics was desired, nonetheless feed-grade ammonium chloride use is a critical driver of growth. Market Opportunity How Expansion Technological Innovations and Expanding Industrial Applications Created Opportunities for Ammonium Chloride? The ammonium chloride market is expected to be very favourable, due to increased industrial applications, innovations in technology and ongoing product innovations and development is a major opportunity for the market. Ammonium chloride has traditionally been used in the fertilizer business, but besides fertilizer, ammonium chloride is being used in pharmaceuticals, batteries, textiles, and metal. Ammonium chloride is also being investigated, among others, for use in zinc–ammonia batteries, which is being suggested as a viable low-cost alternative to lithium. Innovation, particularly in another area, should afford increased applications for ammonium chloride that may include companies involved in electronics, adhesives, and cleaning products. Through innovation ammonium chloride is being redefined through emerging applications from a traditional commodity chemical to a multi-use industrial, strategic chemical. Limitations and Challenges in the Ammonium Chloride Market Health and Safety Risks- Exposure to ammonium chloride can cause respiratory irritation and skin irritations. The high use of ammonium chlorides in industrial or agricultural settings typically requires very stringent safety practices, legal compliance or both, which may both increase the costs and limit the ability to use it in sensitive environments. Environmental Issues- The overuse of ammonium chloride, especially in fertilizer formulations, leads to soil acidification and contamination of water resources. Concerns for the environment, including from sustainability pressures, are limiting its use, especially in agriculture and land management. Volatile Raw Material Pricing- Ammonium chloride is produced from ammonia and hydrochloric acid, both of which are affected by global conditions in terms of price variation. Therefore, changes in raw material costs create uncertainty in profitability and unstable pricing for downstream industries. For more information, visit the Towards Chem and Materials website or email the team at sales@ +1 804 441 9344 Ammonium Chloride Market Segmentation Grade Insights Why Agriculture Grade Segment is the Largest Segment in the Ammonium Chloride Market in 2024? Agriculture grade segment dominated the market in 2024, due to the important role of ammonium chloride as a nitrogen fertilizer, mainly in the production of wheat and paddy. Its solubility and compatibility as a fertilizer, is beneficial in increasing soil nitrogen levels and increasing productivity of crops. Countries with large-scale agricultural activity are exposed to more pressure to sustainably increase yields which is assuming demand for ammonium chloride in agriculture, as the preferred nitrogen source for conventional-scale commercial production and cost-effective farming practices. Food grade segment expects the fastest growth in the market during the forecast period, due to its increasing role as a functional additive in food and beverages. Food grade ammonium chloride is added to liquorice, leavened foods, bakery goods, and processed foods to utilize flavouring, acid-regulating/ with particular functions. The shift to packaged foods and specialty refreshing and prepared foods, especially in urban areas has increased demand, and is forcing manufacturers to include food grade chemicals that meet safety measures as prescribed by law. Application Insights Which Application Segment Dominates the Ammonium Chloride Market in 2024? The fertilizer segment dominate the market in 2024 largely because it is a significant nitrogen source in agriculture. Ammonium chloride is also favored in rice growing for the formation of chlorophyll and improving yields. Due to the solubility of ammonium chloride and compatibility with other fertilizers, ammonium chloride is a preferred fertilizer. Countries with strong agricultural economies such as China and India, utilizing ammonium chloride-based fertilizers to improve soil health and meet increasing food demand will continue to use ammonium chloride fertilizers. Medical and pharmaceutical segment expects the fastest growth in the market during the forecast period. The medical and pharmaceutical segment is rapidly growing due to the amount being used as a treatment for metabolic alkalosis in humans and animals, urinary tract infections, and as an expectorant in cough syrups. Ammonium chloride is also used as an acidifying agent in drug formulations. As access to healthcare expands, chronic illness rates rise, and drug manufacturing expands in emerging markets, the pharmaceutical grade ammonium chloride demand is changing rapidly, which is crucial for the market going forward. Regional Insight Why is the Ammonium Chloride Market Dominated by Asia Pacific? The Asia Pacific ammonium chloride market size grew from USD 1.16 billion in 2024 to USD 1.22 billion in 2025 at a compound annual growth rate of 4.89%. The market is expected to grow to USD 1.87 billion by 2034. Asia Pacific continues to dominate the ammonium chloride market in 2024, mainly as the result of agricultural activity and extensive industrial use. Ammonium chloride is majorly used as the nitrogen source in fertilizers, mainly for wheat and rice. Regional governments in countries, such as China and India, continue to implement nitrogen-based soil treatment to increase productivity. Ammonium chloride is a cost-effective choice. Its use in textile finishing, metal processing, and battery production adds to the region's high ammonia production. Market Trends in China China is also the largest consumer and producer of ammonium chloride in the Asia-Pacific region. According to Chinese government statistics and trade data, China manufactures a large volume of ammonium chloride as a byproduct in soda ash production. Most of that production is for domestic use in agriculture, though some is exported to nearby Asian markets. The large consumption for rice farming and the domestic battery industry (dry cell battery) keeps domestic demand steady which solidifies that China is the dominant country. Why North America showing up as the Fastest Growing Region in Ammonium Chloride Market? North America expects the fastest growth in the market during the forecast period. The growth of the market is primarily attributed to the move toward sustainable agriculture and demand for industrial applications. Ammonium chloride is being utilized more in blended, controlled-release fertilizers, as research has come from organizations such as the USDA to promote precision agriculture and improve nitrogen-use efficiency. In industrial applications such as metalwork, pharmaceuticals, and electronics, ammonium chloride is expected because the purity and reliability of the compound are necessary. Market Trends the U.S. Because of pressure from the USDA and local agricultural extension programs to try testing alternative sources of fertilizer, farmers in the United States are experimenting with ammonium chloride as part of low-chloride nitrogen blends in the hopes of enhanced soil health and/or reduced nitrogen losses. The organic and increasingly moderated level of chloride is expected to provide benefits. Chemical manufacturers of pure ammonium chloride and pharmaceutical manufacturers also utilize ammonium chloride for things like pH control, expectorant medicines, and electroplating. The continued versatility of ammonium chloride (and the recent rigid and increasingly monitored environmental compliance issues) continues to increase demand potential for ammonium chloride in the country. More Insights in Towards Chem and Materials: Asia Pacific Specialty Chemicals Market : The asia pacific specialty chemicals market size was reached at USD 416.51 Billion in 2024 and is expected to be worth around USD 594.95 billion by 2034, growing at a compound annual growth rate (CAGR) of 3.63% over the forecast period 2025 to 2034. Bio-Solvents Market : The global bio-solvents market size was reached at USD 4.54 billion in 2024 and is expected to be worth around USD 6.69 billion by 2034, growing at a compound annual growth rate (CAGR) of 3.95% over the forecast period 2025 to 2034. Engineering Plastics Market : The global engineering plastics market size was reached at USD 146.95 billion in 2024 and is expected to be worth around USD 312.88 billion by 2034, growing at a compound annual growth rate (CAGR) of 7.85% over the forecast period 2025 to 2034. Linear Low-Density Polyethylene (LLDPE) Market : The global linear low-density polyethylene (LLDPE) market size was reached at USD 70.95 Billion in 2024 and is expected to be worth around USD 118.69 billion by 2034, growing at a compound annual growth rate (CAGR) of 5.28% over the forecast period 2025 to 2034. Butadiene Rubber Market : The global butadiene rubber market volume was reached at 6.13 million tons in 2024 and is expected to be worth around 8.32 million tons by 2034, growing at a compound annual growth rate (CAGR) of 3.10% over the forecast period 2025 to 2034. Expandable Polystyrene Market : The global expandable polystyrene market volume was reached at 7.21 million tons in 2024 and is expected to be worth around 9.33 million tons by 2034, growing at a compound annual growth rate (CAGR) of 2.61% over the forecast period 2025 to 2034. Europe Specialty Chemicals Market : The Europe specialty chemicals market volume was reached at 91.51 million tons in 2024 and is expected to be worth around 125.43 million tons by 2034, growing at a compound annual growth rate (CAGR) of 3.20% over the forecast period 2025 to 2034. Europe Plastics Market : The europe plastics market volume was reached at 55.10 million tons in 2024 and is expected to be worth around 64.32 million tons by 2034, growing at a compound annual growth rate (CAGR) of 1.56% over the forecast period 2025 to 2034. Adhesives & Sealants Market : The global adhesives & sealants market size was reached at USD133.45 billion in 2024 and is expected to be worth around USD 350.88 billion by 2034, growing at a compound annual growth rate (CAGR) of 10.15% over the forecast period 2025 to 2034. What is Going Around the Globe? In February 2025, Star Refrigeration has launched the new Azano Chiller 3.0, a low-charge, ammonia-based chiller designed specifically for the food and beverage industries. It offers a considerably reduced ammonia inventory, greater energy efficiency and reduced maintenance for safer, sustainable cooling systems. In December 2024, BASF boosted ammonium chloride production 50 % at its Ludwigshafen site, where it is now processed using a merged, more optimized, integrated process. This improvement will enhance product quality and capacity to fulfil demand across food, feed, battery, metals and chemicals. In May 2025, NOVA Chemicals' recycling facility, SYNDIGO1, was opened at 450,000 sq. ft in Connersville, Indiana. It will recycle 145,000 bales of material into over 100 million lbs of rLLDPE for packaging. Competitive Landscape in the Ammonium Chloride Market BASF SE (Germany)- One of the world's leading producers of food-grade and industrial ammonium chloride. Holds approximately 20–25 % global market share in food-grade NH₄Cl, leveraging high-purity manufacturing, AI-based QC, and sustainable production processes The Dallas Group of America (U.S.)- Listed among global key players in ammonium chloride production. Focuses on industrial grade supply—presumably serving North American market and metalwork/textile industries Central Glass Co., Ltd (Japan)- Initially developed fertilizer business around ammonium chloride. Produces ammonium chloride-based NPK and NK fertilizers and advanced coated fertilizers (Cera-coat R) distributing via JA cooperatives in Japan Tuticorin Alkali Chemicals And Fertilizers Limited (India)- Co-produces ammonium chloride alongside soda ash via dual (modified Solvay) process. Capacity: ~162,000 tpa fertilizer-grade and ~12,000 tpa technical/pure grade NH₄Cl. In FY 2022-23 produced ~55,400 MT NH₄Cl, selling ~62,100 MT—indicative of full utilization and strong demand in India Tinco Chemicals Private Limited (India)- Named among global market players but specific capacity or share figures not publicly disclosed. Likely focused on industrial grade bulk supply Hubei Yihua Chemical Industry Co Ltd (China)- Major Chinese producer with ~2 million tons/year capacity, supplying agricultural and industrial-grade ammonium chloride through integrated chemical operations. Jinshan Chemical (China)- Operates one of China's largest standalone NH₄Cl facilities (~3.3 million tons/year), serving both domestic and international markets. Ammonium Chloride Market Top Key Companies: BASF SE (Germany) The Dallas Group of America (U.S.) Central Glass Co., Ltd (Japan) Tuticorin Alkali Chemicals And Fertilizers Limited (India) Tinco Chemicals Private Limited (India) Hubei Yihua Chemical Industry Co Ltd (China) Jinshan Chemical (China) CNSG (China) HEBANG (China) Tianjin Bohua YongLi Chemical (China) Shannxi Xinghua (China) Shijiazhuang Shuanglian Chemical (China) Liuzhou Chemical (China) Hangzhou Longshan Chemical (China) Sichuan Guangzhou (China) Ammonium Chloride Market Report Segmentation This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2034. For this study, Towards Chem and Materials has segmented the global Ammonium Chloride Market Segments Covered By Grade Food Grade Industrial Grade Agriculture Grade Metal Works Grade By Application Agrochemical Medical/Pharmaceutical Food Additives Leather & Textiles Batteries Others By Regional North America Europe Asia Pacific Latin America Middle East Africa Immediate Delivery Available | Buy This Premium Research Report@ About Us Towards Chem and Materials is a leading global consulting firm specializing in providing comprehensive and strategic research solutions across the chemical and materials industries. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. Our Trusted Data Partners Precedence Research | Statifacts | Towards Packaging | Towards Healthcare | Towards Food and Beverages | Towards Chem and Materials | Towards Consumer Goods | Nova One Advisor | For Latest Update Follow Us: USA: +1 804 441 9344 APAC: +61 485 981 310 or +91 87933 22019 Europe: +44 7383 092 044 Email: sales@ Web: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
an hour ago
- Hamilton Spectator
S&P/TSX composite up Wednesday morning, U.S. markets also higher
TORONTO - Gains in battery metal stocks helped lift Canada's main stock index in late-morning trading on Wednesday, while U.S. markets also rose. The S&P/TSX composite index was up 76.52 points at 27,440.95. In New York, the Dow Jones industrial average was up 204.92 points at 44,707.36. The S&P 500 index was up 15.51 points at 6,325.13, while the Nasdaq composite was up 13.96 points at 20,906.65. The Canadian dollar traded for 73.45 cents US compared with 73.34 cents US on Tuesday. The September crude oil contract was down 44 cents US at US$64.87 per barrel. The August gold contract was down US$20.60 at US$3,423.10 an ounce. This report by The Canadian Press was first published July 23, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
