20.11.2008Uralkali announces that the company’s financial performance in 2008 as well as its production plans for 2009 might be seriously affected by the current adverse situation in the global financial markets. <br/>The turmoil in the global financial markets, that has impacted all areas of the commodities sector, including agriculture, has triggered a drop in demand for crops, thereby hindering farmers’ capacity to purchase planned volumes of fertilizers. As a result, demand for potash has decreased in some markets.
17.11.2008Uralkali announces its decision to set the upper price limit for potash fertilizers intended for direct application by Russian farmers at 3,700 roubles per tonne (FCA, exclusive of packaging) in H1 2009, which is effectively equates to its production expenses forecasted for the relevant group of consumers.
12.11.2008Uralkali (Berezniki, Perm Territory) announces its production results for October 2008 and the first 10 months of 2008.
07.11.2008As Uralkali has disclosed previously, on October 17, 2006, a sudden, uncontrollable inflow of groundwater was detected in Uralkali's oldest mine, Mine 1. Mine 1 was rendered non-operational and Uralkali's production plans since then have taken this into account. On October 28, 2006 the Commission, created by the Federal Service for Environmental, Technological and Nuclear Supervision (Rostekhnadzor), after having investigated the causes of the flooding, concluded that the main cause of the flooding was a ‘‘previously unknown anomaly of geological structure’’, that mining operations in the affected area were conducted by Uralkali in compliance with the regulations existing at that time, and classified the circumstances preceding the flooding as being ‘‘extraordinary and unavoidable events under prevailing conditions not dependent on the will of the parties involved.’’ The flooding has also been classified by the Federal Chamber of Commerce and Industry as an ‘‘unpredictable force majeure event’’.
30.10.2008Further to the earlier announced investment programme, in early 2010 Uralkali (Berezniki, Perm Territory) plans to launch the second production line with capacity of 1.5 million tonnes at the Fourth Mine Division Chemical Plant. In line with proposed plans, investment into production development will be USD 170 per tonne of additional capacity, inclusive of the capacities launched in 2006-2008.
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