OCI NV, Amsterdam, reported adjusted EBITDA of $937.5 million, falling within analyst estimates, according to Bloomberg data. The company shrank net losses to shareholders to $18.7 million for the fourth-quarter and $48.7 million for the full-year.
The Mosaic Co. on Feb. 25 announced an increase of its annual dividend target to $0.20 per share. It also reported fourth-quarter net earnings of $112 million ($0.29 per diluted share) and full-year net earnings of $470 million ($1.22 per share).
Australia’s Incitec Pivot Ltd. reported Feb. 25 that it has been advised by Queensland Rail that it expects the flooded rail line between Phosphate Hill and Townsville to reopen between late April and mid May 2019. While IPL has sought to mitigate the rail closure by road transport, it estimates the outage will give rise to aggregate lost earnings before interest and tax (EBIT) of approximately A$100-$120 million.
Saudi Arabian Mining Co. (Ma’aden) has signed two Memoranda of Understanding (MOUs) with Indian firms, Indian Potash Ltd. (IPL) and KRIBHCO, for the supply of 5 million mt of phosphate fertilizers to the Indian market for five years, according to regional news outlets, citing the Saudi Press Agency. The deals are said to be worth a total of $2 billion.
