New Delhi-State-owned Rashtriya Chemicals and Fertilisers (RCF) is looking into the acquisition of a 25 percent stake in Russia’s Acron Group’s new phosphate rock mine for US$366 million, according to the Indian press, which notes this is just due diligence at this point and not a done deal. Acron acquired rights to the reserves, about 500 miles from St. Petersburg, in 2008, and has been pursuing their development ever since. Reserves are put at 62 M mt; RCF told the local press that it is looking at a 50 percent offtake agreement.
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