Moscow – PhosAgro (Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that its CEO Andrey Guryev met with the Executive Global Head Mining Services of Orica Global, Nick Bowen, to discuss the final stage of the construction of a modern emulsion explosives manufacturing complex at the site of PhosAgro’s Apatit mining and production facility in the Murmansk region. The meeting took place as part of a visit by a delegation from Orica to the construction site.
The agreement to build the 70,000 tonne per year emulsion explosives production facility was signed in 2013, together with a contract worth RUB 13.5 billion for the supply of emulsion explosives during the period 2015 to 2024, as well as for blast hole drilling by Orica at the Apatit mines. Ammonium nitrate from PhosAgro-Cherepovets will be used for the production of the emulsion explosives.
Executive Global Head Mining Services of Orica Global Nick Bowen said: “the construction of this plant is proceeding according to plan, and is expected to be completed by the end of this year.”
Prior to commissioning of the new complex, Orica will supply emulsion explosives to Apatit from other production facilities. Apatit plans to use emulsion explosives for up to 90% of its underground blasting by the end of 2014.
Mr. Bowen added: “Orica, which is an Australian corporation, has operations in over 50 countries around the world and customers in over 100. In Russia, where PhosAgro is Orica’s largest customer, the corporation has strategic interests.”
PhosAgro CEO Andrey Guryev said: “PhosAgro is pleased to work with Orica, a global leader in the manufacture and use of emulsion explosives. PhosAgro is the first company in Russia to fully implement modern technologies from Orica for its underground blasting, which will significantly increase safety.”