All Posts from July 19, 2019

Heliae Development LLC – Management Brief

Management Briefs

Heliae Development LLC, Gilbert, Ariz., an applied life sciences and technology company involved in the advancement of microalgae, has hired Norm Davy as Chief Revenue Officer and Lon Kreger as Senior Director, International Sales. Both will focus primarily on the Heliae® Agriculture arm of the business in these new roles for the company.

Davy, with over 30 years of sales, marketing, and business development expertise in the agricultural industry, was most recently Vice President, Ag Sales, with Anuvia Plant Nutrients. Additional experience was gained at Cargill, Univar, Uniroyal Chemicals (Bayer), and Monsanto (Bayer). He holds an MBA in food and agribusiness from the University of Guelph in Ontario.

Kreger brings more than a decade of sales and marketing experience in the agriculture industry, most recently with Loveland Products. He is completing both an MBA and a master’s in business analytics from Syracuse University.

Itronics Exercises Option on Nevada Facility; Fertilizer Expansion Expected

News, News Briefs, Specialty

Green technology recycler Itronics Inc., Reno, said on July 16 it has exercised its option (GM May 4, 2018) to purchase a manufacturing facility at Wabuska, Nev., for a purchase price of $1.6 million. It said this is a strategic site for the expansion of Itronics Gold’n Gro fertilizer manufacturing and for developing its portfolio of “Zero Waste Technologies.” Itronics’ plan is to develop this site as a green technology campus. The company converts 100 percent of the spent photoliquids into liquid fertilizers, silver bullion, and silver-bearing glass.

“The Wabuska site is configured and zoned for uses that are a perfect fit for expansion of Itronics Gold’n Gro fertilizer manufacturing and for its breakthrough ‘Zero Waste’ technologies,” said Dr. John Whitney, Itronics President. “We are pleased that the seller has worked with Itronics to make this purchase possible. We are also excited to be able to expand our ‘Greentech Zero Waste’ technology operations at a geographically strategic location in northern Nevada.”

Itronics said the site is zoned for fertilizer manufacturing, chemical manufacturing, and foundry operations. Special use permits will be required for specific operations. The facility is on 48 acres and has five buildings with 60,000 square feet under roof, with a $9 million replacement value on the existing structures. It also has four dry product silos and four vertical liquid tanks, and is adjacent to a rail siding.

Itronics said access to rail service is expected to make its fertilizers cost competitive nationally in bulk. The company believes that lowered shipping costs with rail delivery capabilities can make it possible to acquire a meaningful national market share in zinc and other micronutrient fertilizers. It said the facility will also make it possible to expand into international markets.

The site is located about 75 miles southeast of Reno and is about 12 miles north of Yerington, Nev., on the north side of the Yerington copper mining district, with its large undeveloped copper deposits. It is about 15 miles east of the company’s own Fulstone polymetallic gold exploration property (GM Feb. 9, 2015).

The purchase also includes approximately 9 acre-feet of water rights. There is one water well on the site along with a lined fresh water pond, and a lined process water pond for which the permits are active and are being acquired as part of the purchase. Site infrastructure includes electric power and natural gas.

Aussie Phosphate Project Back on Market

Australia, News, News Briefs, Phosphate

ASX-listed junior company Gibb River Diamonds, (formerly Phosphate Australia Ltd., or POZ) West Perth, Western Australia, said on July 15 that private junior company Canadian company ILS Resources Inc. (formerly P205 Resources) did not exercise its option by the midnight deadline of July 12 to acquire Gibb’s Highland Plains Phosphate Project in Australia’s Northern Territory (GM June 21, p. 27; Dec. 14, 2018).

Gibb said it continues to work with several interested parties concerning the purchase of Highland Plains, and will advise the market of further developments.

 

Proposed West Virginia Refinery Expects Byproduct NH3, Sulfur

News, News Briefs

Domestic Synthetic Fuels (DS Fuels), Point Pleasant, W.Va., plans to start construction in October of a $1.2 billion complex in Mason County, W.Va., that will convert the state’s abundant coal and natural gas into a facility that can produce 451,500 gallons of fuel annually. In addition to low-sulfur diesel fuel, jet fuel, and gasoline, the company said the process will also produce byproduct refrigerant-grade ammonia, sulfur, and solid residue.

Mason County was selected for the plant because the area has easy barge access and is close to plentiful supplies of coal and natural gas. The company will bring coal from nearby Kanawha County. Overall, the company expects some 130 jobs will be created, with many more during the construction phase. The company expects the project to be complete in late 2022/early 2023.

“Unlike prior coal-to-fuel projects proposed in the Mountain State, this is going to happen,” said Kevin Whited, who heads the development project building the facility. “We have the money, we have the technology, and we have the expertise.”

The West Virginia Department of Environmental Protection (DEP) recently approved the draft construction permit for the project.

The company said the direct coal-to-liquids process to be utilized mixes coal with a catalyst and hydrogen derived from natural gas and subjects the mixture to heat and pressure to produce high-quality fuels. It said a similar fuel plant in China has been operating since 2008, and that the resulting fuels burn cleaner than those refined from petroleum and are just as effective in vehicles.

AGI Invests in Farmobile, Expands Tech Platform, Integration with IntelliFarms

Canada, News, News Briefs

Equipment and technology provider Ag Growth International Inc. (AGI), Winnipeg, said on July 16 it has agreed to make a minority equity investment of US$15M in Farmobile Inc., Leawood, Kan., an independent agriculture technology company that provides hardware and software services for the real-time collection, organization, analysis, and storage of farm data.

AGI and Farmobile have also entered into a Strategic Commercial Agreement to expand the existing collaboration between the two companies. AGI has the right to appoint two directors to the Farmobile board of directors as a result of this investment.

“Our investment in Farmobile substantially expands our technology platform and integrates automated data collection seamlessly within our IntelliFarms SureTrack farm management and grain exchange platform,” said Tim Close, AGI CEO. “SureTrack is the only business tool available for farmers that brings together a suite of sensors, from the field to grain bins, to enable complete farm management, all integrated with real-time field activity data, market leading grain handling, storage, and conditioning equipment, and a comprehensive grain exchange that allows farmers to find the best price for their product or to market their product based on the characteristics of their grain.

“A powerful combination that now also provides a means for our customers to standardize, control, and monetize their data, on their own terms. We are very pleased to deepen our relationship with Farmobile as we stay laser focused on delivering market leading solutions for our customers,” Close added.

AGI acquired IntelliFarms earlier this year (GM March 8, p. 24).

Australian Potash Receives Tax Incentive

Australia, News, News Briefs, Potash, Specialty, Sulfate of Potash

Australian Potash Ltd. (APC), West Perth, Western Australia, said on July 16 it has received an A$1.3 million Research and Development Tax Incentive from the Australian Taxation Office. It said the incentive recognizes the test work activities that have reduced the capital cost estimate for the Definitive Feasibility Study (DFS) on the Lake Wells Sulfate of Potash Project undertaken by the company during the financial year ending June 30, 2018. The funds will be used to complete the work streams feeding into the DFS, which is due to be delivered in second-half 2019.

Ameropa Secures New Financing; Latest Round Aimed at Romanian Assets

Eastern Europe, Europe, News, News Briefs

Ameropa AG, Binningen, Switzerland, said on July 16 it has successfully signed an €324 million Multicurrency Revolving Credit Facility with a syndicate of banks composed of BCR, ING, Raiffeisen, and Unicredit. The new facility, which may be extended up to three years, will be used by the company’s Romanian assets – Azomures SA, Ameropa Grains SA, and Chimpex SA – to refinance several existing bilateral loans and increase their funding capabilities.

The company said the success of the transaction demonstrates the high quality of the group’s operations in Romania and the strength of its relationship with banks, all of which are also lenders to the group at a global level.

Ameropa confirmed last month that it successfully signed the refinancing of its main syndicated Revolving Credit Facility. The new US$600 million facility was arranged with 16 banks, most prominently Commerzbank, ING, Rabobank, and Unicredit.

The funds will be used primarily to refinance the existing revolving facility, and will continue to be one of the group’s main sources of working capital. The company said the syndication was substantially oversubscribed, with commitments in excess of $830 million.

Agrimin Adds SOPM to DFS; Awards Engineering Design Contract

Australia, News, News Briefs, Specialty, Sulfate of Potash, Sulfate of Potash Magnesia

Sulfate of potash junior Agrimin Ltd., Nedlands, Western Australia, reports that it has broadened its Definitive Feasibility Study (DFS) to include SOP Magnesia (SOPM) for its Mackay SOP Project in Western Australia.

“We are excited to expand and diversify our product range with a high-quality SOPM fertilizer,” said Agrimin CEO Mark Savich. “Based on five years of engagement with the fertilizer industry, we believe this product has excellent market potential, especially in Agrimin’s key target markets.

“Through the DFS process, we have taken the opportunity to investigate and successfully incorporate the option of SOPM production,” he added. “This ensures that the DFS development plan can allow the maximum value to be extracted from Agrimin’s globally significant potash deposit. A broader product range will allow Agrimin to adapt its product mix to suit market demand and to build strong brand value for our products. Ultimately we expect this to deliver greater market share over the long-term.”

In other news, on July 15, Agrimin said it awarded Primero Group Ltd. the engineering design contract for the process plant component of the Mackay project. The engagement of Primero is on an Early Contractor Involvement (ECI) basis, with the initial awarded stage being the process plant design works.  Agrimin reports that process consultants, Novopro Projects Inc., have completed the process modelling and flowsheets for the DFS.

 

Parrish & Heimbecker to Build New Crop Inputs Facility in Manitoba

News, News Briefs, Western Canada

Canadian agribusiness Parrish & Heimbecker Ltd. (P&H) announced that it is building a new crop inputs and grain facility near Dugald, Man. Construction began in late June, with the site expected to become operational in 18 months.

Plans for the new facility include 25,000 mt of grain storage; a loop track for continuous grain loading and movement; a 6,000 mt dry fertilizer plant that will deliver custom fertilizer blends and micronutrients; and a chemical warehouse and seed treatment facility to serve customers in surrounding areas, including Transcona, Man. The company said the new location will handle and ship canola, corn, oats, soybeans, and wheat.

“We are looking forward to continuing to expand our family-owned agricultural operations with a new facility in Dugald,” said John Heimbecker, President Grain Division and P&H Executive Vice President. “This new location will provide area producers with both efficient, state-of-the-art grain handling and crop input facilities, as well as valuable insight, knowledge, and expertise through a team of agronomic and grain marketing professionals that are dedicated to helping customers grow and market the best crop.”

Headquartered in Winnipeg, Man., P&H is a family-owned operation with more than 60 locations and over 1,500 employees across Canada. In addition to crop inputs and services, the company has an extensive grain elevator network and also operates trading and merchandising, transportation and logistics, feed, and grain milling businesses.

 

Compass Minerals – Management Brief

Management Briefs, Specialty

Compass Minerals, Overland Park, Kan., announced on July 18 several personnel changes aligned with a broader strategic effort to create a functional organizational structure designed to drive improved operational performance, ensure long-term growth, and deliver shareholder value.

The company has appointed former Peabody executive George J. Schuller Jr. to the newly-created position of Chief Operations Officer, responsible for managing all global operations across the company’s Salt and Plant Nutrition businesses. He will join the company in early September.

Compass said Schuller brings more than three decades of experience working with Peabody in senior management roles in both surface and underground mining operations. He most recently served as President – Australia, and before that, Chief Operating Officer – Australia for nearly four years.

Schuller holds a B.S. in Engineering – Mining from West Virginia University and an MBA from the University of Charleston. In 2018, he received an honorary Doctorate of Engineering from West Virginia University for his contributions to the mining industry, including being a champion of inclusion and diversity throughout the industry.

The company also has named Brad Griffith to the newly created position of chief commercial officer, effective immediately. He will manage all global commercial aspects of the company across the Salt and Plant Nutrition businesses, including sales and marketing, innovation, logistics, and customer service. He joined Compass in August 2016 as Senior Vice President, Plant Nutrition.

“With this new functional organizational structure, I am confident Compass Minerals is positioned better than ever to build on our recent investments, harness our strengths, and chart a clear path forward for greater success and value creation,” said Kevin S. Crutchfield, Compass President and CEO. “The addition of such a highly skilled operational leader as George, combined with a strong commercial leader in Brad, should enable us to deliver improved operational results, grow our sales, and double down on our customer focus. These are important steps as we constantly strive to further increase our ability to execute and deliver on our commitments to customers, employees and shareholders.”

As a result of these organizational changes, Anthony Sepich, formerly Senior Vice President, Salt, and Diana Toman, formerly Senior Vice President, General Counsel, and Corporate Secretary have left the company effective immediately to pursue other opportunities. The company has initiated a search for a new General Counsel.

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