Phosphates

Corrine Ricard has been named Senior Vice President – Brazil, while Rick McLellan has been named Senior Vice President – Commercial.

The report defined the Husky1/North Dry Ridge (H1/NDR) deposits in Idaho, US, as the company’s path forward for mine development.

Work on the study began in 3Q18 in partnership with the Government of New Brunswick, Canada, to examine the possibility of building a phosphoric acid plant at Belledune in New Brunswick.

The two companies agreed to evaluate opportunities to exchange information and technical expertise in order to increase the capacity of the South African company’s projects both in South Africa itself, including Elandsfontein, the country’s second largest phosphate deposit, and in the Republic of the Congo and Ghana.

The company's total fertilizer production in 3Q19 increased by 15.2% y/y to 2460.4 kt. Fertilizer output for 9M19 grew by 7.2% y/y to 7162.0 kt.

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 is intending to invest US$3 billion in growth and modernisation by 2025.

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.

The shutdowns are at the company's Allan, Lanigan and Vanscoy potash mines in Saskatchewan, Canada.

The company also intends to repurchase US$250 million of stocks.

The industrial unit is expected to have a production capacity of approximately 1 million t upon completion.

The strategic review of the company's Fertilisers Asia Pacific business segment will assess various options including a potential sale of the business, a demerger or retaining the business and continuing to invest for growth.

The company is developing the Lac à Paul phosphate mine in the Saguenay-Lac-Saint-Jean region of Quebec, Canada.

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.

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