PhosAgro, Orica sign 10-year pact for Russian mining operations

31 May 2013 16:52  [Source: ICIS news]

LONDON (ICIS)--Apatit, a subsidiary of Russian phosphate fertilizer producer PhosAgro, has signed a 10-year agreement worth over Russian rubles (Rb) 13.57bn (€328m, $425m) with Australia’s Orica Limited for the supply of emulsion explosives to Apatit, from 2015 to 2024, the company said on Friday.

Under the agreement, Orica’s Russia-based subsidiary CJSC Orica CIS will provide safe emulsion explosives for mining work at Apatit, the release said.

“The technology offered by Orica will enable us to make a major leap forward in the safety of our blasting operations while also improving efficiency,” Maxim Volkov, CEO of PhosAgro said.

Orica will finance the construction of a modern emulsion explosives production complex at Apatit with a capacity of 70,000 tonnes/year, the company said in a statement.

The facility is to be completed by 2015, and will utilise ammonium nitrate (AN) produced by PhosAgro-Cherepovets.

Orica will supply emulsion explosives to Apatit from other production facilities for the period prior to completion of the new production complex, the company said.

PhosAgro plans to use emulsion explosives for up to 90% of the underground blasting at Apatit by 2014.

By: Deepika Thapliyal
+44 208 652 3214

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