What Keras Resources Plc does

Keras Resources Plc is an AIM-listed (LSE: KRS) mining and resource company domiciled in the United Kingdom, with operational assets in the United States and Togo. Its core asset is the Diamond Creek organic phosphate mine in Utah, described as one of the highest-grade organic phosphate deposits in the US and operated as a fully integrated mine-to-market operation with in-house crushing, milling, screening, packaging and distribution capabilities. The company sells organic phosphate products directly to the US fertilizer market, and through a 50/50 joint venture with PhoSul LLC at the Delta Processing Facility produces PhoSul® granules, a higher-value-added granulated SKU that achieved hot commissioning in June 2024.

The company's secondary asset is the Nayéga Manganese Project in Togo, West Africa, where manganese mining operations commenced in September 2025, adding a second commodity stream. Keras Resources monetizes through direct sales of organic phosphate products, including the PhoSul® granule line, to customers in the US organic fertilizer segment. Products can be tailored to individual customer specifications. The company is closely held, with approximately 60.61% of issued shares not in public hands and concentrated among five individuals, and operates with a small headcount of 1-10 employees. Strategic emphasis is placed on the fast-growing US organic fertilizer market, regenerative agriculture positioning, and the establishment of a carbon credit presence alongside core mining operations.

Name

Keras Resources Plc

Legal name

Keras Resources Plc

Website

https://kerasplc.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Keras Resources Plc is an AIM-listed UK mining company that wholly owns the Diamond Creek organic phosphate mine in Utah and the Nayéga manganese project in Togo, selling organic phosphate fertilizer products directly to the US fertilizer market.

Ownership category

akta.pro rank

Product category

Organic Phosphate Mining

NAICS

Other Nonmetallic Mineral Mining and Quarrying (212390), Phosphatic Fertilizer Manufacturing (325312)

SIC

Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400), Metal Mining (1000)

akta.pro primary industry

Phosphate Rock Mining (IMAKAGAA)

akta.pro secondary industries

Fertilizer Raw Materials & Intermediates (Phosphate Rock, Sulfuric/Phosphoric Acid, Potash Ore/Brines) (AFABABAH), Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Organic phosphate mining
• Phosphate fertilizer production
• Manganese mining
• Mine to market operations
• Agricultural minerals

Headquarters

HQ city

Cobham

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Organic Phosphate Sales: Direct sales of organic phosphate products to the US fertilizer market. Products include various organic phosphate formulations that can be tailored to customer requirements, including PhoSul granules produced through the PhoSul LLC joint venture.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Keras Resources Plc is an AIM-listed mining company that wholly owns the Diamond Creek organic phosphate mine in Utah, US, one of the highest-grade organic phosphate deposits in the US. It operates a fully integrated mine-to-market operation with in-house crushing, milling, screening, packaging and distribution infrastructure, producing a variety of certified organic phosphate products (including PhoSul® granules via a 50/50 JV with PhoSul LLC) for direct sale to the US fertiliser market. The company also holds the Nayéga Manganese Project in Togo, where it has commenced manganese mining.

Product overview

Keras Resources Plc operates as a mining and resource company with two primary business segments: (1) Organic Phosphate Operations centered on the Diamond Creek mine in Utah, US — a fully integrated mine-to-market operation producing certified organic phosphate fertilizer products including PhoSul® granules manufactured through a 50/50 JV with PhoSul LLC at the Delta Processing Facility; and (2) Manganese Mining through the Nayéga Manganese Project in Togo, where the company has commenced production. The company is focused on the fast-growing US organic fertiliser market and carbon credit presence.

Differentiator

Problem solved

Functional benefit

Brands

• PhoSul: PhoSul granules produced from the Delta Processing Facility in Utah through a 50/50 joint venture with PhoSul LLC.

Products and services

• Diamond Creek Organic Phosphate Mine

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• PhoSul LLCcoreStrategic or Co-development Partner50/50 joint venture partnership for the production of PhoSul granules at the Delta Processing Facility in Utah. The granulator plant achieved hot commissioning and first organic phosphate granules production in June 2024, representing a key milestone in the integrated mine-to-market operation.

Scale indicators4 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• Nutrien Ltd: World's largest fertilizer producer with extensive US phosphate operations (Aurora, White Springs) plus global potash, nitrogen and retail distribution. The dominant incumbent Keras competes against for US phosphate offtake and benchmark pricing.
• The Mosaic Company: Largest US-based phosphate producer with Florida and Peruvian mining operations and US fertilizer distribution. Serves as the primary US phosphate benchmark against which Keras's pricing and market-share gains must be measured.
• PhosAgro: Vertically integrated Russian phosphate fertilizer producer with European and Latin American distribution, listed in Moscow and on the LSE. Relevant global benchmark for processed phosphate (MAP/DAP/NPK) pricing dynamics that influence Keras's US pricing power.
• South32 Limited: Diversified base-metals miner with significant manganese exposure through the GEMCO joint venture in Australia, alongside alumina, copper, zinc, lead and coal. Relevant incumbent comparable on the manganese side, and benchmark for how diversified miners value battery/steel mineral exposures.

Direct peers

• Itafos: Vertically integrated phosphate fertilizer producer with assets in Brazil (Itaoca) and US trading/distribution, formerly TSX-listed before being taken private by EuroChem in 2023. Comparable structure to Keras as a mid-cap publicly listed phosphate producer targeting regional niche markets.
• Emmerson Plc: AIM-listed specialty fertilizer mining company developing the Khemisset potash project in Morocco. Direct structural peer to Keras — small AIM market cap, single primary asset, mine-to-market development narrative, public-microcap fertilizer exposure.
• Jupiter Mines Limited: ASX-listed manganese producer (Tshipi Borwa Manganese Mine in South Africa) and a pure-play manganese exposure. Directly comparable to the Nayéga Manganese Project in Togo as a publicly listed manganese miner of similar scale.
• Arianne Phosphate Inc. TSX-V-listed developer of the Lac à Paul high-purity phosphate concentrate project in Québec, similarly positioning itself in a premium/niche phosphate end-market rather than commodity MAP/DAP. Directly comparable in size, public-minor profile, and 'specialty phosphate' go-to-market strategy.

Emerging players

• Ferrexpo Plc: LSE-listed iron ore pellet producer operating a single primary asset in Ukraine — comparable small/medium-cap listed pure-play mining structure (single-asset, vertically integrated, AIM/LSE main market exposure) that provides a useful template for how Keras might re-rate as a public minor.
• First Phosphate Corp. Canadian (CSE-listed) developer of igneous phosphate deposits in Québec targeting LFP battery-grade phosphate — directly comparable emerging-play angle to Keras's organic/'premium' positioning strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/kerasplc
• LinkedInlinkedin.com/company/keras-resources-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keras Resources Plc