Kirovsk, 9 April 2012 – PhosAgro ("PhosAgro" or "the Company") (MICEX-RTS, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that Russian Federation President Dmitri Medvedev visited the Company’s Apatit mining and beneficiation plant.
PhosAgro is implementing a capital expenditure program to overhaul and expand the plant’s ore base, beneficiation capacities and other parts of the production infrastructure. This investment program is designed to increase capacities while lowering production costs, ensure workplace and fire safety, while improving environmental protection measures. In 2012 PhosAgro plans to invest RUB 6.9 billion into the development of Apatit.
At Apatit’s Vostochny mine, President Medvedev observed the Company’s modern dispatching system, which enables centralized, real-time management of the mining fleet. The system uses on-board computers, electronic sensors, GPS navigation and telemetry systems to provide up-to-date information from the vehicles to key control posts. Installation of the dispatching system has increased the mining fleet’s productivity by decreasing idle time and lowering costs related to fuel and rubber use.
The Russian President also met with employees of the Apatit plant and discussed a number of issues, including: development of the mining and chemicals sectors, including the impact of Russia joining the WTO; resource security; training of qualified workers; social responsibility for businesses that are the primary employer in a given city; and the social-economic development of the Murmansk oblast, including the cities of Kirovsk and Apatity.
Commenting on the visit, Russian Federation President Dmitry Medvedev said: “This plant is very important because it plays an important role in the functioning of the Russian agricultural sector by producing fertilisers and other components.”