Moscow – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that the Government of the Russian Federation, with order number 2901-r, dated 11 October 2012, has cancelled its special right to participate in the governance of OJSC Apatit (the “Golden Share”).
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Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer
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Notes to Editors
PhosAgro is a leading global vertically integrated phosphate-based fertiliser producer. The Group focuses on the production of phosphate-based fertilisers, feed phosphate and high-grade phosphate rock (P2O5 content of not less than 35.7 percent), as well as ammonia and nitrogen-based fertilisers. The Group 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 (excludingChina), according to Fertecon. PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the only producer inRussia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high quality apatite-nepheline ore, representing over 75 years of production. The Group also controls substantial Al2O3 resources, and has 41% ofRussia’s rare earth oxides resources.
The Groups mines and phosphate rock production facilities are located in the mountainous areas of the Kola Peninsula in theMurmanskregion of northwestRussia, whereas its fertiliser and feed phosphate production assets are located near the city ofCherepovetsin theVologdaregion and near the city ofBalakovoin theSaratovregion of southwest part of European Russia. The Group is the only global vertically integrated fertilizer producer that derives approximately 90% of its consolidated gross profit from the phosphates segment. PhosAgros 2011 IFRS revenue was USD 3.4 bln and EBITDA was USD 1.2 bln. The Сompany’s net debt/EBITDA ratio was 0.43 at 31 December 2011.
For further information on PhosAgro please visit: www.PhosAgro.com