Under agreements signed by Acron and Dorogobuzh with Apatit for apatite concentrate supplies in 2012, Apatit undertakes to supply the companies with sufficient raw materials for them to operate at full capacity. The price, which will remain fixed for the entire term of the agreements, will be calculated based on the 2011 base price plus an allowance for inflation.
Commenting on the agreements, Chairman of the Board of Directors Alexander Popov said:
“Because these agreements ensure supplies of necessary raw material, both the Acron Group companies and Apatit will be able to make long-term operating and investment plans. We thank our partners for their constructive approach to guaranteeing that the Acron Group’s Russian facilities have phosphate supplies until we are able to bring our own phosphate operation online. These agreements play an important role in stabilising mineral fertiliser prices.”