Yara International ASA, at its Capital Markets Day in London today, announced it is evaluating an IPO of its industrial nitrogen businesses. As part of the evaluation process, the business units Mining Applications (TAN), Transport Reagents and Industrial Nitrates will effective July 1, 2019 be organized in a separate entity. Yves Bonte, previously EVP New Business, will take up the role as CEO of this entity. The conclusion of a final IPO scope is expected early 2020.

“This would create significant growth opportunities, strategic focus and flexibility, for both a carved out business and for Yara. A new ownership structure would allow these businesses to continue to thrive and grow profitably, while continuing to provide healthy returns to Yara,” said Yara International President & CEO, Svein Tore Holsether.

Netherlands-headquartered OCI N.V. (OCI) and The Abu Dhabi National Oil Co. (ADNOC) today announced a new strategic partnership. The partnership will see ADNOC combine its fertilizer business, ADNOC Fertilizers, into OCI’s Middle East and North Africa (MENA) nitrogen fertilizer platform to form a new joint venture.

The companies said the joint venture will become the largest export-focused nitrogen fertilizer platform globally and the largest producer in the MENA region with a production capacity of 5 million mt/y of urea and 1.5 million mt/y of sellable ammonia. Annual revenues for the combined entity are $1.74 billion, based on 2018 pro forma figures. ADNOC and OCI will own a 42 percent and 58 percent stake in the joint venture, respectively.

Sirius Minerals Plc, Scarborough, England, announced it has signed a take-or-pay supply agreement with Indian Farmers Fertiliser Cooperative Ltd. (IFFCO) for the supply of Poly4 in India from its polyhalite mining and processing project under development in North Yorkshire.

Volumes will ramp up to 1 million mt/y in year eight of the 11-year term, with an option, subject to mutual agreement of the parties, to increase this to 1.25 million mt/y. Sirius said pricing is based on a nutrient-linked formula on a CIF India basis. IFFCO has a break clause after year eight and there is a 10-year extension option subject to mutual agreement by the two parties.

Incitec Pivot Ltd. (IPL) today announced that it will continue manufacturing operations at its Gibson Island nitrogen plant in Queensland after confirming a new gas supply agreement through to Dec. 2022, securing the employment of approximately 400 workers at the site. The company had warned it might have to close the plant if a gas supply contract could not be secured at the right price. Its current temporary one-year gas contract expires on Dec 31, 2019.

IPL said the new supply agreement reached with Australia Pacific LNG through to Dec. 2022 provides certainty to allow a circa A$100 million, three-year investment in major plant maintenance at Gibson Island.