AUSTRALIAN POTASH Ltd has announced that it has received firm commitments for US$7 million through a placement of over 63 million fully paid ordinary shares (placement shares) at an issue price of 11.1 cents each (placement). The bookbuild was oversubscribed with strong demand from institutional and professional investors. The placement shares will be issued on the same terms as, and rank equally in all respects with, the existing fully paid ordinary shares in the company. Over 14 million placement shares will be issued under the company’s 15% placement capacity under ASX listing rule 7.1, and over 48 million placement shares will be issued under the company’s 10% placement capacity under ASX listing rule 7.1 A. Settlement is expected on or around 10 November 2020. “The strong support for the placement is a testament to our Lake Wells SOP project’s appeal as one of this state’s pre-eminent mining-agri projects, positioned as a low cost, high return, ultra-low carbon emitting SOP project, which sits comfortably in the lowest quartile of the global cost curve,“ Matt Shackleton, Managing Director of APC commented.
IBERDROLA and FERTIBERIA have allied in the hope of seeing Spain become an industrial leader of green hydrogen technology, with hopes to install 800 MW of green hydrogen production capacity through a €1.8 billion investment programme over the next 7 years. In the next year the partners will commission their first plant in Puertollano, Spain, becoming one of Europe’s largest green hydrogen complex for industrial use. The innovative partnership includes plans to develop three additional projects between 2023 and 2027, in the Fertiberia plants of Puertollano and Palos de la Frontera, Huelva, Spain, which could deliver 40 times the capacity of the first plant. “This great project that could turn Spain into the first country to obtain 100% of its ammonia production from green energy sources,” Ignacio Galán, Chairman of Iberdrola, and Javier Goñi, Chairman of Fertiberia said in a joing statement. With this “strategic and decisive” step, fertilizers will be manufactured with a high level of effectiveness and environmental efficiency, reducing greenhouse gas emissions, as required by the future Common Agricultural Policy. “More than 50% of our turnover already comes from high added value products, a percentage that will exceed 60% in 2023”, highlighted Goñi.
CF INDUSTRIES HOLDINGS Inc., a global manufacturer of hydrogen and nitrogen products, has announced steps to support a global hydrogen and clean fuel economy, which is expected to grow significantly over the next decade through the production of green and low-carbon ammonia,“ Tony Will, President and CEO of CF Industries Holdings, Inc., said and added that „the world needs clean energy and hydrogen is a key to meeting this need, Low-carbon ammonia is the critical enabler for storage and transport of hydrogen and thus has a major role to play.” Green hydrogen and ammonia are expected to be critical contributors to the world achieving net-zero carbon emissions by 2050. Industry experts predict that hydrogen will meet approximately 20% of the world’s energy needs by 2050, up from less than 1% today. Ammonia, which is composed of three-parts hydrogen and one-part nitrogen, is a highly efficient transport and storage mechanism for hydrogen as well as a fuel in its own right.
