ISRAEL CHEMICALS, also known as ICL, a global speciality minerals and chemicals company, has announced that it has entered into a definitive agreement to acquire Fertiláqua, a Brazilian speciality plant nutrition company, for approximately US$120 million. The acquisition will expand ICL’s speciality plant nutrition product portfolio and enhance its customer base and on-ground presence across agriculture regions in Brazil. Fertiláqua had been previously controlled by Aqua Capital, an agriculture and food private equity firm. Fertiláqua offers a portfolio of plant life-cycle solutions for plant nutrition and stimulation, soil revitalisation, seed treatment and plant health across all key Brazilian crops, including soybeans, corn, sugarcane, cotton, coffee, fruits and vegetables. This portfolio includes the brands Aminoagro, Dimicron and Maximus. The acquisition is expected to close in early 2021, subject to the fulfilment of customary closing conditions. ICL expects to leverage Fertiláqua’s strong market presence and distribution capabilities to increase the sales of its organic fertilizers, controlled-released fertilizers and other speciality plant nutrition products to the Brazilian market.
KALIUM LAKES Ltd (KLL), an Australian exploration and development company, has announced that its Beyondie sulfate of potash (SOP) project (BSOPP) is approaching 70% completion, on budget and on schedule. This includes the practical completion of the 79.4 km BSOPP natural gas lateral, which is fully owned by Kalium Lakes, as well as the commencement of the installation of steel and key mechanical equipment for the SOP purification plant. “Overall we are close to achieving 70% project completion and importantly we remain on schedule and on budget, KLL CEO, Rudolph van Niekerk, commented. “Practical completion of our gas pipeline allows us to finalise the gas supply infrastructure and significantly de-risks completion of construction for this part of the Project.“ The natural gas pipeline has achieved practical completion by Pipecraft three weeks ahead of schedule and under budget. Construction work at the SOP purification plant is also progressing on budget and schedule, with concrete works now more than 35% complete. Delivery of key equipment for the SOP plant continues on schedule, with many items now received at site and the delivery of all key equipment forecast to be completed by the end of 2020.
KORE POTASH, a London-headquartered advanced-stage mineral exploration and development company, has started its drilling programme for phase 1 of the definitive feasibility study (DFS) for its DX project in the Sintoukola Basin, located in the Republic of the Congo. The drilling campaign has been designed to provide additional intercepts of the targeted sylvinite horizons and improve confidence in the DX mineral resources and ore reserves. Kore Potash acquired two drill rigs, a mud rotary and a diamond drill rig in 2019, and previously utilised these drill rigs to complete the DX PFS drilling programme. These drill rigs will be used for this current drilling programme, during which the company is planning to drill up to five additional diamond drill holes within the DX deposit which sits within the Dougou Permit area. “The majority of our drilling staff have been employed from the communities nearby the DX project area, and we are delighted to be able to find this capability locally and to continue contributing to the local economy,” Brad Sampson, Chief Executive of Kore Potash, noted.
