PJSC Uralkali has no plans to buy potash assets in Belarus, according to a Reuters report this week, citing Uralchem JSC Board Chairman and Deputy CEO – Director of Sales and Marketing Dmitry Konyaev.
Local media in Belarus reported earlier in this week that the Russian potash company was considering buying potash producer Belaruskali OAO and Slavkaliy, a potash development project in Belarus that was started by Russian billionaire Mikhail Gutseriev, who transferred his stake to a family member after he was sanctioned by the E.U. last year (GM Dec. 3, 2021). Like Belaruskali, Gutseriev is also under U.S. sanction.
Konyaev said Uralkali is not considering the development of potash assets outside the Perm region in Russia, and its interests in potash are concentrated only in this region.
Uralchem, via its majority owner Dmitry Mazepin, has owned 81.47 percent of Uralkali since the end of November 2020 (GM Dec. 4, 2020).