The duration of the contract is 10 years from the commencement of commercial production.
Sinochem Fertilizer Macao is a wholly owned subsidiary of Sinofert Holdings Ltd., which is listed on the Hong Kong Stock Exchange and whose controlling shareholder is China National Chemical Corp. Ltd., a Chinese state-owned enterprise.
Sinofert is one of China’s largest crop nutrition companies. China is the world’s largest SOP market and currently accounts for more than half of all global SOP demand.
Mark Savich, CEO of Agrimin said: “Sinochem Fertilizer Macao is a Tier 1 offtake partner and we welcome this long-term relationship with China’s main importer of potash to create an important supply channel for Agrimin’s SOP into the world’s largest SOP market.
“This large tonnage, long-term supply deal with Sinochem Fertilizer Macao is testament to the quality and scale of the Mackay potash project. It is also further evidence of the considerable interest in the environmental and organic credentials of Agrimin’s SOP product.
“We are at an advanced stage of negotiations with other major fertilizer companies in different regions and we expect to announce further developments in the near term to underpin project financing.”
Read the latest issue of World Fertilizer in full for free: April 2021
The April issue of World Fertilizer begins with a regional report that examines the opportunities and challenges currently facing Latin America’s fertilizer industry. The remainder of the issue is dedicated to a range of technical articles covering ammonia, blending and bagging, plant design, fertilizer cargo measurement and fertilizer storage. Our World Review of fertilizer projects in Africa and the Middle East, Asia Pacific, Europe and CIS and the Americas rounds off the issue.
Read the article online at: https://www.worldfertilizer.com/potash/18052021/agrimin-signs-offtake-agreement-with-sinochem-fertilizer-macao/