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Tag: Investment

Revolution in speciality phosphates

The phosphate industry, the dominant consumer of sulphuric acid worldwide, has grown to its present size on the back of fertilizer consumption. And while this has seen considerable growth over the past decades, especially in countries like China, India and Brazil, it has generally been fairly steady and – subject to the annual vagaries of weather and the commodity cycle – relatively predictable. However, the world economy is now in the throes of a major transformation towards less carbon intensive generation and use of energy, and that is disrupting many markets, including that for phosphates.

Nitrogen Industry News Roundup

OCI Global says that it has reached an agreement for the sale of 100% of its interest in its large-scale nitrogen fertilizer subsidiary the Iowa Fertilizer Company LLC, located in Wever, Iowa, to Koch Ag & Energy Solutions for $3.6 billion. Completion of the transaction remains subject to US anti-trust approval and other customary closing conditions. The transaction is expected to close in 2024. Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the transaction. IFCO produced 1.2 million t/a of urea ammonium nitrate (UAN) in 2021 and 700,000 t/a of anhydrous ammonia, as well as 700,000 t/a of diesel exhaust fluid (DEF).

Nitrogen Industry News Roundup

Proman has signed a memorandum of understanding (MoU) with Mitsubishi Corp to collaborate on the development of a blue ammonia plant at Lake Charles, Louisiana. This new facility will aim to produce around 1.2 million t/a of low carbon ammonia, making it one of the largest of its kind in the world. The plant will incorporate carbon capture and sequestration technology. Proman says that this development aligns with the company’s commitment to sustainability and reducing greenhouse gas emissions. The proposed ammonia plant will be located at Proman’s existing site in Lake Charles, adjacent to its gas-to-methanol plant, which is also currently being developed.

Sulphuric Acid News Roundup

First Quantum Minerals Ltd. has contracted with MECS, Inc. (MECS), a subsidiary of Elessent Clean Technologies, for the Kansanshi smelter expansion at the Kansanshi mine at Solwezi. MECS’ scope of work will include a redesign of the existing sulphur-burning sulphuric acid plant into a copper smelter off-gas recovery sulphuric acid plant. This transition to a copper smelter off-gas recovery acid plant will enable First Quantum to reduce emissions from the existing copper smelter, increase production at the mine, and supply more copper to the global market, which will enable the adoption of greener technologies. MECS’ design for First Quantum incorporates proprietary technologies such as MECS® catalyst for low emissions and high conversion, Brink® mist eliminators, ZeCor® alloy towers and pump tank and UniFlo® acid distributor technology for operational reliability and efficiency.