Israel Chemicals Ltd. is holding contacts with Britain’s Sirius Minerals on the possible sale of its U.K. operations, according to a report in the Calcalist economic daily. The report said that the sale price is likely to be around $150 to $200 million. ICL owns a potash mine in Boulby in northern England with a capacity of 800,000 mt/y. Due to the high cost of production ICL has in recent years reduced manpower at the mine from 1,000 to 500 and took a write off in 2016. According to the report, junior firm Sirius, which has a mine under development in the U.K., is interested in buying ICL’s U.K. operations due to the potential from the production of polysulfate. In November, ICL said that given current market conditions it had decided to accelerate the transition of its U.K. mine to polysulfate from potash. ICL said in response to the report that the company is studying various possibilities including cooperation, the sale or purchase of companies and the company would make an announcement if and when there is anything to report.
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