Fertilizer news updates

EuroChem Group AG, a global fertilizer company, has announced the buy-back of a 10% stake in the Group from former Chief Executive Officer Dmitry Strezhnev.

Perdaman Chemicals and Fertilisers has signed a licensing and engineering contract for Haldor Topsoe’s SynCOR Ammonia solution for its AUS$4 billion ammonia/urea plant in Karratha, Western Australia.

Itafos has reported its 2Q19 financial results and operational highlights. The financial statements and management’s discussion and analysis for the quarter ended 30 June 2019.

The company recorded total revenue for the six months ended 30 June of CAN$1.48 million.

The company has received letters of intent from KfW IPEX-Bank of Germany and Export Development Canada with regards to one of its small-scale production facilities in central Saskatchewan, Canada.

At 30 June 2019, Karnalyte Resources had cash of CAN$8.6 million, a positive working capital of CAN$8.7 million and no debt.

Encanto Potash Corp. is engaged in the development of potash properties in Saskatchewan, Canada.

Al-Nasr Fertilizers Co., and Benchmark Power International are to establish an ammonia production plant in the Suez Governorate.

Fritz Venter will also lead the project team managing the Milestone Potash Phase I project in Canada.

The company recorded a net income of US$5.6 million, or US$0.04 per share, in 2Q19.

Wet weather in the Midwest US negatively impacted the company's North American spring fertilizer sales volumes and phosphates margins.

The company intends to revisit the market when conditions have improved later this quarter.

BayoTech has announced that its Board of Directors has appointed Mo Vargas as President and Chief Executive Officer. Mo will also become a member of the Board of Directors for BayoTech.

The credit approval has been obtained from the Africa Finance Corp. and the African Export Import Bank.

The pre-FEED (front-end engineering and design) study is the next step in the development of a chemical and fertilizer facility near Narrabri, New South Wales, Australia, which will use appraisal and early development gas.

The US$1 billion facility in Kingisepp, Russia, was formally opened at the St. Petersburg International Economic Forum in June.

Kiwa Bio-Tech Products Group Corp. recently completed research of a new fertilizer processing technology with several technology institutes.

The company's revenue also increased by 24% y/y.

Matt Shackleton, Managing Director and CEO of Australian Potash, has said that the complete findings of the definitive feasibility study on the project will be released in due course.

CVR Partners has announced net income of US$19 million, or US$0.17 cents per common unit, on net sales of US$138 million for 2Q19.

Net earnings in 2Q19 were US$858 million (US$1.47 diluted earnings per share). 2Q19 adjusted net earnings was US$1.58 per share and adjusted EBITDA was US$1.9 billion.

Danakali and the Colluli Mining Share Company have said they aim to commence project execution in 2019.

PhosAgro-Region (a PhosAgro subsidiary) increased the total volume of mineral fertilizer sales to Russian agricultural producers by 14.3% y/y to 1.65 million t in 1H19.

Compound fertilizers, which are well suited to dry climates and can be tailored to individual terrains, are key to meeting world’s growing demand for food production.