28 May 2020
Acron Group Sells Crown Potash Lease KL 279 in Canada
Acron's subsidiary, 101211205 Saskatchewan Ltd. (Canada), has closed a transaction to sell Crown potash lease KL 279 to Potash Corporation of Saskatchewan Inc., a potash business unit within Nutrien Ltd. KL 279, or Stockholm Project, is an undeveloped 263.5 km² property located in southeast Saskatchewan, Canada.
Acron believes that the transaction reflects fundamental value of the potash industry even amid the turbulent market environment.
Acron continues to own nine Crown potash leases and one exploration permit in Saskatchewan. Acron’s potash dispositions with a total area of approximately 2,000 km² are divided into two prospective blocks – Albany Project (six lots in the south of the province) and Foam Lake Project (four lots in the north of the potash exploration and mining area in the province).
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Background Information
Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and the Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is implementing a potash development project in Perm Krai (Verkhnekamsk Potash Company, VPC). It owns transportation and logistics infrastructure, including three Baltic port terminals and distribution networks in Russia and China. Acron’s subsidiary, North Atlantic Potash Inc. (NAP), holds mining leases and an exploration permit for ten parcels of the potassium salt deposit at Prairie Evaporite, Saskatchewan, Canada. Acron also holds a minority stake (19.8%) in Polish Grupa Azoty, one of the largest chemical producers in Europe.
In 2019, the Group sold 7.6 million tonnes of various products to 78 countries, with Russia, Brazil, Europe and the United States as key markets.
In 2019, the Group posted consolidated IFRS revenue of RUB 114,835 million (USD 1,774 million) and net profit of RUB 24,786 million (USD 383 million). Acron’s shares are on the Level 1 quotation list of the Moscow Exchange and its global depositary receipts are traded at the London Stock Exchange (ticker AKRN). Acron employs over 11,000 people.
For more information about Acron Group, please visit www.acron.ru/en.