These mineral assets include potash, phosphates and bromine. To this end, Reuters reports that ICL is planning to invest heavily in entrepreneurial initiatives, innovation and the development of agricultural techniques.
Johanan Locker, Chairman, reportedly said: “We are examining cooperation with several strategic partners, establishment of innovation laboratories, as well as a broad spectrum of investment options, from investments in funds, to establishment of venture capital funds and to direct investment in startups.”
The company has reportedly set a goal to decrease the cost per tonne of potash by 10 – 15% over a five-year period, and maintain stable potash production of 5 million t.
In addition to this this, Reuters claims that the company is also looking to increase its semi-specialty sales to US$400 million within a five-year period. This is up from US$100 million. The company is reportedly also looking to attain more than US$1 billion in advanced crop nutrition sales also within a five-year period.
According to Reuters, ICL UK is expecting a significant reduction in loss in 2018, and is forecasting profitability from 2020 onwards.
Read the article online at: https://www.worldfertilizer.com/phosphates/22032018/icl-reveals-new-five-year-targets/