The Belarusian Potash Co. (BPC) has reached a potash supply agreement with Chinese companies, according to the BelTa news agency. The deal with Chinese customers Sinochem, CNAMPGC and CNOOC, is reported to be at $290/mt CFR, some $60/mt higher than the year-ago conclusion. It is also the same price that BPC inked with a major Indian buyer. The price is for product to be supplied until June 2019.
Sirius Minerals, Scarborough, England, reported Sept. 17 that it has signed it largest ever offtake agreement. It is with Brazil’s sixth largest fertilizer distributor, OFD Supply Inc., a Cibra Group company. The offtake will increase to 2.5 million mt/y in the seventh year of production.
As a result, Sirius says its take-or-pay sales volume has now increased to 8.2 million mt/y, surpassing the 6-7 million mt/y target required to underpin Stage 2 financing.
In addition, Sirius says it has simultaneously acquired 30 percent of certain Cibra Group companies in return for 95 million ordinary shares in Sirius, providing Sirius with established infrastructure and direct access into the fertilizer distribution business.
