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.
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.
A short interview with James Wright, Senior Manager Capital Procurement at Nutrien, ahead of the 11th Chem Petrochem & Refinery Shutdowns and Turnarounds Conference.
Andrey Guryev, PhosAgro CEO and head of the Russian Fertilizer Producers Association has been elected chairman of the Russia–Brazil Business council.
Future Market Insights is reporting that the agriculture testing services market will exhibit a steady 6% CAGR through 2028.
PhosAgro has announced that an extraordinary general meeting of shareholders has approved the payment of dividends in the amount of RUB9324 million, or RUB72/share.
The agreement with the OCP Group forms part of Itafos's repurpose plan to optimise finished fertilizer production with a multi-product portfolio of higher grade SSP, micronutrient SSP and value added premium PK compound products.
The plant was idled in late 2017 because it was one of the higher cost phosphates facilities in Mosaic’s Florida Operations and due to global phosphate market conditions.