Incitec Pivot Ltd., reported a 72 percent drop in first-half net profit after tax (NPAT) excluding individually material items to A$41.9 million from the year-ago $147.1 million. The company cited a $60 million impact from the Queensland rail outage on Phosphate Hill earnings and $16 million from increased costs, driven by elevated gas pricing following a third-part gas supply disruption to the St. Helens site. There was also a $65 million decrease due to the impact of significant outages at the Waggaman, La., ammonia plant. Australian fertilizer sales were down $21 million due to drought.
Belarus Potash Co. (BPC) and China’s CNAMPGC have signed a Memorandum on Cooperation (MoC) for container shipments of more than 500,000 mt of potash to China in 2019-2023, BPC said on its website. The Belarus supplier said the memorandum is “a sizeable addition” to the previously signed five-year MoC for potash deliveries inked between the two companies. The two parties launched a test period for potash container deliveries in January. No details on price or terms were provided in BPC’s statement. Some 10 percent of the Belarusian company’s potash exports were shipped in containers last year.
Itafos, Toronto, reports that Mhamed Ibnabdeljalil has been appointed interim CEO, effective immediately. He currently serves on the company board of directors and will continue in that role. Dr. Ibnabdeljalil succeeds Brian Zatarain who is stepping down as CEO to pursue other interests. Dr. Ibnabdeljalil previously served as the Executive Vice President and Chief Commercial Officer of OCP Group SA.
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