Our mission statement

We produce potash fertilisers to ensure that people all over the world are provided with food, and to support the growth of our Company and the welfare of our employees and local communities, through efficient and responsible development of unique potash deposits.
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Our vision

  • The Company is one of the world’s leading potash producers
  • We are expanding our production capacity to satisfy growing demand for our products in the long term
  • Our production priorities remain zero accidents and casualties, reducing our environmental footprint and ensuring the high quality of our products
  • We are the most cost-efficient company in our industry
  • Our work is based on principles of clear division of responsibilities, KPI-based management and risk minimisation
  • The Company is the most attractive employer in the Perm region and, potentially, the mining industry as a whole
  • We attach great importance to our people: we develop and promote our best employees
  • We play an active role in the development of Berezniki and Solikamsk
  • We strive to increase the Company’s value and its investment attractiveness
  • The Company operates transparently for all stakeholders
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Our values

Our values unite all of the Group’s employees, regardless of their production facility, department, role or responsibilities. Our values provide us with strength and support to drive further development. Our activities are guided by the following values:

  • Safety:
    we personally observe safety rules and do not tolerate violations
  • Responsibility:
    We always complete what we promised to complete on time
  • Effectiveness:
    We aim to attain the highest results while expending the lowest costs
  • Teamwork
    We respect and trust one another and know that only by working together will we accomplish our results



About Uralkali

Uralkali is a leading producer and exporter of potash, which is an essential component for the growth and development of all living organisms. In 2015, the Company accounted for 18% of global potash sales. PJSC Uralkali controls its entire production chain, from potash ore mining to the supply of potassium chloride to customers. Vertical integration helps the Company maintain one of the lowest production costs in the industry.

Our assets

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  • УралкалийPotash mines
  • УралкалийPotash processing plants
  • УралкалийCarnallite Plant
  • УралкалийGreenfield licences
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Uralkali’s production facilities

include five mines, six potash plants and one carnallite plant, producing white MOP, pink MOP and premium granular MOP. The Company has licences for the development of three additional blocks of the Verkhnekamskoye deposit, which, together with the optimization and expansion of current capacity, will contribute to our investment programme.

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The Verkhnekamskoye potassium and magnesium salt field developed by the Company is the world’s second-largest deposit in terms of ore reserves. Uralkali’s production facilities include five mines, six potash plants and one carnallite plant, situated in the towns of Berezniki and Solikamsk, in the Perm region of Russia. PJSC Uralkali has licences for the development of three additional blocks of the deposit, Ust-Yayva, Romanovsky and Polovodovsky. The Company employs around 11,000 people in its main production unit.

What we produce


1Standard White MOP
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Standard White MOP

is applied directly to the soil and used to produce compound NPK fertilisers, as well as for other industrial needs. We supply this product mainly to China, Russia and Europe. White MOP is produced in the following varieties: 95% and 98%.

2Standard Pink MOP
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Standard Pink MOP

Pink MOP is applied directly to the soil and we supply it primarily to India and South East Asia.

3Granular MOP
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Granular MOP

Granular MOP is a premium product bought in countries using advanced soil fertilisation methods. Granulation slows down the absorption of fertiliser nutrients into the soil, thus prolonging their action. We export our granular MOP to Brazil, the USA and EMEA, where it is applied directly to the soil or blended with nitrogen and phosphate fertilisers.

Mineral resource statement / as of 1 January 2016/

All mines Tonnage (mln tonnes) K2O1 (%) K2O (mln tonnes)
Measured 2046,5 19,5 400,0
Indicated 5230,9 18,4 963,7
Total measured + indicated 7277,4 18,7 1363,7
Inferred 310,3 26,8 83,3

1P otassium oxide, KCl = 1,61K2O.




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Key Performance Indicators

Year highlights

УралкалийIn 2015, the deteriorating market conditions led to a decline in sales by 9% to 11.2 million tonnes. Net revenue decreased by 5% to US$2.6 billion. High capacity utilisation, an efficient business model and the rouble devaluation led to a 30% decrease in cash COGS and an EBITDA margin increase to 72%.

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Major developments
in 2015

In early 2015, Uralkali decided to adopt a 6-year capacity expansion programme. Upon completion, the programme will result in an increased capacity of up to 14.4 million tonnes by 2020.*

*Subject to annual verification



March

05.03
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Adoption of Uralkali’s updated capacity expansion strategy for 2015-2020

The Board of Directors of Uralkali approved an updated development strategy for Uralkali for the period of 2015-2020, providing for investment of US$4.5 billion in the development programme.

April

07.04
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License received for subsoil use of the Novo-Solikamskiy plot of the Verkhnekamskoye field until 2035

A license for subsoil use of the western part of the Novo-Solikamsky plot of the Verkhnekamskoye potassium and magnesium salt field, with the right to extract magnesium salts (carnallite rock), was received until 6 April 2035. Its cost was 10.5 million roubles (about US$186,000 at the time of receipt).

Recoverable reserves at the new plot are estimated at 55.7 million tonnes of carnallite, which increases the Company's total reserves of carnallite to 1,540 million tonnes.

April

10.04
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Uralkali concluded an agreement for the supply of potassium chloride to China in 2015

Uralkali signed a contract to supply 850,000 tonnes of potassium chloride (not including options) to China in April-December 2015 at a price of US$315, on a CFR basis. The contract was signed with a consortium of Chinese importers consisting of Sinochem, CNAMPGC and CNOOC.




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Over the past year, Uralkali successfully raised external funding. The Company received a syndicated loan from international banks amounting to US$655 million and opened a credit line with Sberbank for US$1.5 billion for a period of 5 years.



April

20.04
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Uralkali signed an agreement with international banks for a loan of up to US$655 million

Uralkali received a syndicated loan amounting to US$530 million for a period of 4 years with the possibility of increasing the loan amount to US$800 million. In June, the Company increased the loan amount to US$655 million.

May

01.05
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Uralkali concluded an agreement for the supply of potassium chloride to India in 2015-2016

Uralkali signed a contract to supply 800,000 tonnes of potassium chloride to India in May 2015-March 2016. The contract was signed with IPL, India's largest importer of mineral fertilisers.

Jun

11.06
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Completion of the first buyback of common shares and GDRs

The buyback programme implemented in the period from 24 April to 11 June 2015 resulted in the purchase of 11.56% of Uralkali's shares for US$1.09 billion. As a result, approximately 23.35% of Uralkali's shares remained in free float. The buyback of shares was carried out to provide shareholders with the possibility of raising funds in the absence of the Company's dividend payments.




In the end of 2015, the Uralkali Board of Directors decided to delist Uralkali's GDRs from the London Stock Exchange (LSE). The Company announced the delisting on 22 December. The decision was made taking into account the low liquidity of the GDRs on the LSE and a reduced number of free-floating GDRs.




August

06.08
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Registration of a exchange traded bonds programme worth up to 100 billion roubles

The Moscow Exchange registered Uralkali's exchange traded bonds programme with a nominal value of up to 100 billion roubles for a period of 20 years from the date on which the identification number is assigned. The programme provides for any offering in any currency, with a maturity of up to 10 years.

September

10.09
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Opening of a credit line with Sberbank

In September, Uralkali and Sberbank signed an agreement to open a non-revolving credit line for US$1.5 billion with a five-year maturity period and year and a half availability period

September

23.09
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Uralkali-Technology and VTB Capital signed a REPO agreement

JSC Uralkali-Technology, a subsidiary of Uralkali, raised US$800 million under a REPO transaction agreemenet with VTB Capital, transferring Uralkali’s shares totalling 12.61% of share capital under the REPO agreement and GDRs totalling 7.38% of share capital under a pledge agreement. These funds were used to buy back ordinary shares and GDRs of the Company under the buyback programme of 25 August 2015.




October

16.10
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Completion of the second buyback of ordinary shares and GDRs

The second buyback programme implemented in the period from 25 August 2015 to 16 October 2015 resulted in the purchase of 21.98% of the Company's shares for US$2.07 billion. An application for 12.5% of shares was received from Chengdong Investment Corporation. As a result, the number of shares held by minority shareholders amounted to approximately 13.9% of the share capital of the Company. The buyback of shares was carried out to provide shareholders with the possibility of raising funds in the absence of the Company's dividend payments.

November

23.11
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Uralkali launched an open-market buyback programme

In November the Board of Directors of the Company approved the programme to buy back up to 6.5% of Uralkali’s share capital on the open market. The programme expired on 31 March 2016. The Company intends to eventually cancel the shares purchased under the buyback programme. As a result of the completion of the programme the Company purchased 4.89% of its share capital.

December

22.12
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Delisting of Uralkali's GDRs from the LSE

Uralkali announced a delisting and terminated trading of its GDRs on the London Stock Exchange (LSE) given the low liquidity of the GDRs on the LSE and the reduction of the number of free-floating GDRs to less than 3.5% of the Company’s share capital (excluding GDRs owned by major shareholders and subsidiaries of the Company).




Our sales markets

Our strategic goal is to ensure food security through sustainable supply of potash fertilisers to all key markets. Flexible utilisation of production capacities, developed logistics, and a global trading network enable us to be a reliable partner in any situation.

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7.4 mln tonnes port capacity of Baltic Bulk Terminal
>8,000 railcars
7 trading offices in key markets
>70 countries

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our sales

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1 Includes Middle East, Africa and former Soviet Union countries.




Business model

We prioritise choices that enhance our world-leading potash position, which include implementation of a large-scale capacity expansion programme aimed at debottlenecking existing capacity and constructing new mines, and efficient operation of our vertically integrated production chain – from potash ore mining to supply of potash to customers.

Vertical integration



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Feeding the world


As the global population grows together with the need for agriculture products, our leadership position and capacity development programme enable us to react quickly and adjust our shipment volumes in line with changes in consumer demand. Moreover, we share agronomic expertise with our customers to provide them with the knowledge to use our products in the most efficient way for optimal yields.

Value creation