The company is intending to invest US$3 billion in growth and modernisation by 2025.
The Group will supply over 100 000 t of ammonium nitrate and NPK to the Bryansk, Orel and Novgorod regional departments of agriculture for 2020.
The company has said that there will be a delay to the the time required to bring the Elandsfontein phosphate mine in South Africa to production.
More Phosphates news
Wet weather in the Midwest US negatively impacted the company's North American spring fertilizer sales volumes and phosphates margins.
Kiwa Bio-Tech Products Group Corp. recently completed research of a new fertilizer processing technology with several technology institutes.
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.
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.
The company has made an EPCM agreement with Lycopodium for services related to the development of Itafos Farim’s mine site, which is expected to produce 1.3 million tpy of phosphate rock.