Phosphates

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.

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.

The company will release 2Q19 earnings results on 29 July after market close.

Andrey Guryev, PhosAgro CEO and head of the Russian Fertilizer Producers Association has been elected chairman of the Russia–Brazil Business council.