Sirius Minerals enters into supply, distribution agreement with Muntajat

14.10.2019

Sirius Minerals Plc, through its subsidiary York Potash Ltd., has entered into an exclusive 10-year supply and distribution agreement with Qatar Chemical and Petrochemical Marketing and Distribution Company Q.P.J.S.C (Muntajat) for the sale and distribution of volumes of POLY4 into Africa (except Nigeria and Egypt), Australia, New Zealand and certain remaining Middle Eastern and Asian territories.

“We are delighted to expand our growing partnership with Qatar through this long-term supply agreement with Muntajat. Qatar is already a major investor in Sirius via QIA and Sirius is working with Muntajat to explore the downstream combination of POLY4 with nitrogen products in Qatar and/or the United Kingdom to create a value-added multi-nutrient fertilizer,” said Chris Fraser Managing Director and CEO of Sirius. “This new supply agreement with Muntajat provides us with access to a number of new markets for POLY4 and further underpins the large scale, international market appetite for POLY4, lifting our aggregate peak sales volumes to 13.8 Mtpa.”

Muntajat is a state-owned Qatari company which markets and distributes approximately nine million tonnes of fertilizer per annum.

“We see tremendous potential in POLY4 and Sirius’ project which will enable us to bring this multi-nutrient product to our extensive global customer network,” said Abdulrahman Ali Al-Abdulla, Chief Executive Officer of Muntajat. “The addition of POLY4 will complement our existing portfolio and will enable us to provide a more complete solution to our customers in these important markets by adding additional macro-nutrients to our portfolio.”

Contracted volumes increase to c.2.0 Mtpa in year five and peak at 2.1 Mtpa in year eight – taking Sirius’ aggregate peak sales volumes to 13.8 Mtpa.

More information
www.siriusminerals.com

 

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