A joint venture (JV) 750,000 tpa
diammonium phosphate (DAP) plant is to be set up in Dhaka, the
capital of Bangladesh, with the support of
the governments of Bangladesh and Saudi
Arabia, according to reports by Arab
The private sector-led venture has been
agreed between the finance ministers of the two countries, Abul
Maal A Muhith of Bangladesh and Ibrahim Al-Assaf of Saudi
The announcement came during talks between
the two countries, aimed at intensifying cooperation in the fields of
trade and investment.
noted that Israel’s Knesset had approved the
Taxation of Profits from Natural Resources legislation,
implementing the conclusions of the Sheshinski Committee
It said that
the net impact of the legislation on its annual profits in the
coming years would be "significantly dependent" on the prices
of potash over the period.
legislation is expected to apply to all minerals other than
potash as of 2016 and to apply to potash as well as of 2017,"
ICL noted that its Spanish subsidiary, ICL
Iberia, had signed a cooperation agreement with the
Government of Catalonia to ensure the continuation of ICL
Iberia’s potash mining activities in the Bages
Region of Catalonia.
In the UK, ICL
will cut a number of jobs at its Boulby plant in
Reports by the
Northern Echo indicated that the workforce of the
"manual" team could be reduced by 20% to 361, with 68 jobs to
be cut from the technical workforce, a 25% cut in management
numbers to 124 and 11 job office job losses.
spokesperson said that decisions regarding staffing levels were
yet to be finalised. The Unite labour
union has said it will fight to retain jobs at the
Russian fertiliser producer PhosAgro OAO said
that it had been forced to partially suspend production at its
Balakovo plant, due to undelivered raw materials from
supplier, Gaxprom Sulphur.
said that the gradual suspension of sulphuric acid production
at the plant, which mainly supplies the Russian market, may
cause a decrease in December production volumes of
phosphate-based fertilisers of 72,000 tonnes.
Rewards Minerals Ltd said that recent drilling
at its LD project in Western Australia (WA) had increased the
its mineral resource estimate to 564m tonnes sulphate of potash
(SOP) contained in brine grading 13.7kg per square
managing director of Rewards, said that the company is "in the
process of defining the extractability parameters of the
mineral resource brine and will provide results from on lake
pumping trials shortly".
mineral reserve confirms the significance of the LD basin as a
potentially viable source for a long life SOP operation," he
ASX-listed Minemakers Ltd, a phosphate
producer, has changed its name to Avenira Ltd,
following approval at its annual general meeting.
Lawrenson, the company’s managing director said
that it had "undergone a significant transformation over the
past 12 months", adding that it was "delighted to commence the
development [its] flagship Baobab Project under the new Avenira
banner". Its ASX
ticker has now been changed to AEV.
Resources Ltd, also
listed on the ASX, has signed a heads of agreement for the
offtake of 250,000 tonnes phosphate rock with DPA
Oceania Pty Ltd from its Geolsec phosphate operations
in Australia’s Northern Territory.
The deal is to
consist of 50,000 tpa over a five year period, with the option
confirms Oceania’s interest in acquiring an equity
stake in Geolsoc Phosphate Operations Pty Ltd, a subsidiary of
Korab, for Australian dollar (A$) 4m ($2.89m*) and in assisting
in the development of the quarry.
Elemental Minerals Ltd has received a
non-binding proposal from SUMMIT Private Equity providing for
SUMMIT to invest $40m in the company at
The deal is
subject to a number of conditions including due diligence,
documentation and internal approvals and is intended to ensure
Elemental is sufficiently funded through to the commencement of
the construction of its Kola Sylvinite1 potash project in the
Republic of Congo.
Belarusian Potash Corp.
and CNAMPGC Holding
Co., a Chinese fertiliser producer, have signed a
memorandum of association up to 2020, according to Belarus
follows the site visit of a Chinese delegation to Belarus.
Under the memorandum, the two companies will aim to "strengthen
already one of the largest importers of Belarusian potash
Corp. of Saskatchewan Inc. (PotashCorp) will deal with struggling
world markets by becoming more efficient, but will not cut
jobs, its CEO Jochen Tilk has said.
Tilk told the
Saskatoon Chamber of Commerce that crop prices
have experienced double-digit percentage declines over the past
He added that,
in order to remain competitive, the company will reduce costs
and increase production.
potash trader Canpotex Ltd is to decide late
next year where to expand its west coast terminal capacity, a
move which it hopes will give it a faster route to Chinese
buyers, its CEO, Ken Seitz told news site Canadian
company’s options include building a Candian
dollar (C$) 775m ($583m) terminal at Prince Rupert, British
Columbia, which would allow it to bypass Port Metro Vancouver
and cut shipping times to China by two days, Seitz
owned jointly by miners PotashCorp,
Mosaic Co. and
production in Senegal increased 16.4% in the first nine months
of 2015, according to the Directorate of Forecast and
Economic Studies, in a report by Star
increased from 729,700 tonnes in 2014 to 849,300 tonnes in
2015, an increase attributed mainly to the production of
calcium phosphates which stands at 714,900 tonnes, 21.1% above
Jordan Phosphate Mines Co. (JPMC) plans to
build a fertiliser plant in Indonesia as part of its expansion
and marketing strategy, the Jordan Times
Along with the
Indonesian government, JPMC has registered a JV company called
Petro Kaltim Abadi to establish a factory in the
The project is
the company’s second investment in Indonesia
following the Petro Jordan Abadi fertiliser factory in Gersik
city, East Java province, which was brought into operation last
Maaden Phosphate Co. has received commitments
from a number of local and international lenders to replace its
A new loan of
$3.07bn has been agreed on "more favourable terms" than
previous debt. The company expects to sign definitive financing
agreements by the end of the year.
Phosphate is owned 70% by Saudi Arabia’s
Maaden and 30% by Saudi Basic
*Conversions made November