26th Oct 2012 12:45
For Immediate Release 26 October 2012
PhosAgro and PRAYON to Develop Rare Earth Technologies
Cherepovets - PhosAgro ("PhosAgro" or "the Company") , a leading global vertically integrated phosphate-based fertilizer producer, announces that it has signed a memorandum with the Belgian company PRAYON S.A ("Prayon").
The signing took place during Russian Federation Prime Minister Dmitry Medvedev's visit to PhosAgro subsidiary PhosAgro-Cherepovets.
The agreement entails PhosAgro receiving access to technologies developed by Prayon for extraction of rare earth elements contained in phosphogypsum produced when phosphate rock from PhosAgro subsidiary Apatit is used to make phosphoric acid, adaptation of these technologies to PhosAgro's production facilities, and their subsequent introduction into the manufacturing process. All phases of the project are due to be completed by Prayon during 2013. The project is to be implemented at one of PhosAgro's existing production facilities.
This agreement expands the successful long-standing partnership between Prayon and PhosAgro in the area of leading innovative technologies.
For further information please contact:
OJSC PhosAgro+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press OfficerM:CommunicationsSam [email protected]+44 (0) 20 7920 2356Notes to EditorsAbout Prayon
Prayon is a global phosphate producer headquartered in Belgium, with manufacturing operations in Belgium, France and the United States. Owned equally by OCP (Morocco) and SRIW (Belgium), Prayon manufactures and markets an extensive range of purified phosphoric acids, phosphate salts and fluorine products that are used in food, fertilisers and a range of industrial applications. Prayon also manufactures lithium boron iron phosphate, a cathode material used in hybrid and electric vehicle batteries as well as stationary applications. Prayon is constantly exploring new products designed to serve emerging market trends.
About PhosAgro
PhosAgro is one of the leading global vertically integrated phosphate-based fertiliser producers. The Company focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 39 percent), as well as ammonia and nitrogen-based fertilisers. The Company is the largest phosphate-based fertiliser producer in Europe, the largest producer of high-grade phosphate rock worldwide and the second largest MAP/DAP producer in the world (excluding China), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC as of 1 June 2011) of high quality apatite-nepheline ore, representing over 75 years of production (at current production levels). The Company also controls substantial Al2O3 resources, and has more than 41% of Russia's rare earth oxides resources.
The Company's mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in the Murmansk region of northwest Russia, whereas its fertiliser and feed phosphate production assets are located near the city of Cherepovets in the Vologda region and near the city of Balakovo in the Saratov region of southwest part of European Russia. PhosAgro reported 2011 IFRS revenue of USD 3.4 bln and 2011 EBITDA of USD 1.2 bln. The С ompany's net debt/EBITDA ratio was 0.43 as of 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com
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