The company's net loss in 1Q20 was US$153 million, compared to a profit of US$133 million in 1Q19.
The company's Fertilisers Asia Pacific segment recorded an EBIT loss of of AUS$9.9 million, an improvement from a loss of AUS$32.5 million in HY19.
Prayon has acquired the intellectual property, including patents portfolio and process know-how, of Ecophos s.a., which filed for bankruptcy earlier in March.
In September 2019, the company commenced a strategic review of the Incitec Pivot Fertilisers business with three possible outcomes envisaged – sale, demerger, or retain and invest.
The subsidiary of PhosAgro increased total sales of mineral fertilizers to Russian farmers by 47% y/y in 1Q20.
The company has received the certifications for the Integrated Fertilizer Production Complex in Ras Al Khair Industrial City, Saudi Arabia, as well as the mine and plant in Al Jalamid.
The company has said the 21-day national lockdown in South Africa does not currently affect the timetable of the Elandsfontein phosphate project.
The company is taking steps, such as ensuring proper stocks of critical raw materials, to ensure they remain open.
The company is currently in the development phase of the project Lac à Paul phosphate mine, in the Saguenay — Lac-Saint-Jean region, in Quebec, Canada.