PhosAgro CEO Andrey Guryev said: "The main parameters of the 2020 budget confirm PhosAgro's commitment to maintaining its status as one of the most efficient producers of mineral fertilizers in the global industry."
The company's revenue in 3Q19 rose by 3% y/y to RUB64.6 billion (US$1.0 billion) mainly due to higher sales in priority markets. Revenue for 9M19 increased by 12% y/y to RUB195.0 billion (US$3.0 billion).
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 association includes international companies and organisations involved in fertilizer production, the search for innovative solutions and research in the field of fertilizers, phosphorus management and recycling, and mineral and organic fertilizer innovation.
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.