EDITOR: | July 14th, 2014

Eurochem Launches Phosphate Ore Production In Kazakhstan

| July 14, 2014 | No Comments
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July 14, 2014 (Source: EuroChem) — EuroChem (the “Company”), a top ten fertilizer company globally, today announces the launch of phosphate ore production at the Kok-Jon phosphate rock deposit in the Jambyl region, Kazakhstan.

The EuroChem project in Kazakhstan has already produced around 20 thousand metric tonnes (KMT) of phosphate ore, which has been shipped to the adjacent storage facility. Total production is expected to amount to over 150 KMT of phosphate ore by the end of the year.

The Company plans to reach a steady production level of up to 650 KMT per year in 2016 following the full commissioning of the Phase I programme. EuroChem also plans to further ramp up the project to 1.5 million metric tonnes (MMT) per year as it aims to construct a fertilizer complex in the region. The Company has already invested around US$75 million in the project.

Commenting on the news, Clark Bailey, Mining Director of EuroChem, said: “We are pleased with the early results of our Kazakhstan project and this new mine at the Kok-Jon phosphate rock deposit. The first product from the mining operations is being realized just a few months after we started developing the deposit. This is a testament to the professional team and dedicated leadership that we have assigned to these operations. The project continues on schedule with the planned ramp-up of the production capacity.”

EuroChem is also committed to advancing the socio-economic development in the region through providing employment opportunities and improving social infrastructure for the local communities. The Company hasinvestedoverUS$10 million to upgrade social facilitiesin the Jambyl region since the launch of its mining operations.

The development of the Kok-Jon deposit and the planned construction of the fertilizer complex are implemented in accordance with an agreement between EuroChem and the Government of Kazakhstan.

Note to the editors:

EuroChem is a leading global agrochemical company, producing primarily nitrogen and phosphate fertilizers, as well as certain organic synthesis products and iron ore. The Company is vertically integrated with activities spanning from mining and natural gas extraction to production, logistics, and distribution. EuroChem is currently developing two sizeable potash deposits in Russia with its VolgaKaliy (4.6 mtpa) and Usolskiy Potash (3.7 mtpa) greenfield projects. Headquartered in Moscow, it operates production facilities in Russia and Western Europe and employs more than 20,000 employees globally.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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