Sirius Minerals plc, Scarborough, England, said it has inked an exclusive 10-year supply and distribution agreement with Qatar Chemical and Petrochemical Marketing and Distribution Co., known as ‘Muntajat’.
The deal, inked through Sirius’ subsidiary, York Potash Ltd., is for the sale and distribution of volumes of Poly4 into Africa (except Nigeria and Egypt), Australia, New Zealand, and certain remaining Middle-Eastern and Asian territories.
Contracted volumes under the agreement increase to around 2 million mt/y in year five and peak at 2.1 million mt/y in year eight, and take Sirius’ aggregate peak polyhalite sales volumes to 13.8 million mt/y.
Muntajat is a state-owned Qatari company which markets and distributes approximately 9 million mt/y of fertilizer.
In May, Qatar bought a stake in Sirius Minerals, according to May 23 filings by the polyhalite developer. The Qatar Investment Authority, Doha, acquired 3.28 percent of Sirius.