EuroChem Group has completed the acquisition of the Serra do Salitre phosphate project in Brazil, the company said in a press release.
EuroChem officially takes over the advanced-stage mine and plant in Minas Gerais as of February 22.
The complex comprises an open-pit phosphate mine with over 350 million metric tons (MMT) of reserves and a plant with production capacity of 1 MMT of fertilizers per year.
The deal was valued at $452 million, and EuroChem will invest a similar amount to fully implement the project. Fertilizer production is expected to launch in 2024 and reach full capacity in 2025. The mine and processing plant are currently in operation and produce about 500 KMT of phosphate rock.
The project incorporates a sulfuric acid plant, a phosphoric acid plant, and a storage facility for granular fertilizers, including urea and potassium chloride, among other products.
“The acquisition delivers upon the Group’s growth strategy in South America, one of the world’s most important crop-growing regions, and consolidates EuroChem’s position as a global leader in fertilizers,” the company said.
The Milk Alliance group of companies producing dairy products under the Yahotynske brand continues to work as usual, co-owner of the holding Oleksandr Derkach wrote on the holding’s Facebook page.
“Milk Alliance works for you. Normally. Even today. Yahotynske is and will be on the shelves. Me, my friends in life and business partners, are in Kyiv. I’m sick at heart. Worrying. But panic, it’s definitely not about us,” he wrote on the social network.
Milk Alliance was established in June 2006 as a holding company with a charter capital of UAH 23.5 million and a balance sheet of 99.9% consisting of long-term financial investments.
Ukraine’s power system is operating normally, the availability of the necessary energy resources is fully ensured, the Ministry of Energy reported on its website on Thursday.
According to the ministry, security measures have been strengthened at all facilities, and the stability of the operation of enterprises and grids in the energy sector is being systematically monitored.
“Today, the IPS of Ukraine [Integrated Power System of Ukraine] and the Burshtyn TPP Island are synchronized into one power system, which operates autonomously from Russia and Belarus in a single control unit with the power system of Moldova,” the ministry recalled.
According to the report, the Ministry of Energy is currently setting itself the key task of providing Ukrainians, and primarily the Ukrainian military, with electrical and thermal energy.
Ukraine’s largest producer of coking coal, PrJSC Pokrovske Coal, intends to increase production of coking coal by 2024 and process it into coal concentrate by 4.1 million tonnes, Kostiantyn Vialy, director of the coal directorate at the managing company of Metinvest Group, said.
According to him, 2021 was not an easy and difficult year for the company, however, it was possible to achieve fairly high production volumes.
“Albeit not at the level that was planned. We have something to be proud of and, we can say that we managed to create a reliable guarantee of success and stability in the future. Last year we passed a very good investment program for 2022. We are planning a powerful mining upgrade – mine equipment for sinkers. At the end of February, we expect the delivery of two Chinese-made combines. We plan to purchase two more combines at the end of the year. As for the overhaul, one combine has already been received, two more are ready to be sent to the plant,” Vialy said in an interview with a corporate publication.
At the same time, he expressed the hope that a certain breakthrough in the pace of mining will be achieved this year, which will make it possible to significantly increase the “cleaning front” and production volumes in the future.
At the same time, he added that the first suspended battery locomotive is being tested in the mine today – compared to diesel, it does not produce noise and exhaust gases. In the future, it is planned to gradually update the mine transport. This requires considerable investments, but if you look at the issue taking into account the prospects, they will definitely pay off – if not today, then tomorrow.
Answering a question about the problem with personnel, he noted that the shortage of personnel is a problem of the entire labor market, which has been observed for many years.
Speaking about the future of the company, the director stressed that the vision is positive and successful.
“With the support of Metinvest, we are developing production, building new blocks, improving labor safety, the professional level of our employees. Our plans are large-scale. It is important for us to provide intra-group assets that are part of Metinvest with our coal. We plan to reach the peak of mine workings in 2024, which will increase production and produce concentrate in the amount of 4.1 million tonnes,” the head of the coal directorate said.
International business has expressed solidarity with Ukraine in the face of a possible aggravation of the foreign political situation and continues to work in the country, the International Council of Business Associations and Chambers in Ukraine (ICBAC), which unites the trade communities of nine countries and the Ukrainian Chamber of Commerce and Industry, said in a statement.
“We remain to work on the territory of Ukraine and, together with Ukrainian partners, we will work to strengthen the economic potential and resilience of Ukraine,” the press service of the Ukrainian Chamber of Commerce and Industry said, citing the ICBAC statement in a release.
ICBAC brings together companies from France, Sweden, Austria, Germany, Turkey, Canada, China, the UK and the United States.
“Representatives of nine countries expressed their solidarity with Ukraine in the face of possible negative consequences for its economy, which may arise as a result of the aggravation of the foreign policy situation. They intend to expand trade turnover, which reaches $50 billion,” the Chamber of Commerce and Industry said.
