16 Jan 2017 14:33

Uralkali cuts potash output 5.3% to 10.8 mln tonnes in 2016 (Part 2

MOSCOW. Jan 16 (Interfax) - Uralkali produced 10.8 million tonnes of potassium chloride (KCI) in 2016, 5.3% less than in 2015, the miner said in a statement.

It produced 2.9 million tonnes in Q4 2016, up 3.6% from 2.8 million tonnes in Q4 2015.

Uralkali revised its production target several times in the course of the year. It said April that it was aiming to produce 10.3 million-11.3 million tonnes, but adjusted this to 10.8 million-11.2 million tonnes in June. CEO Dmitry Osipov said in August that guidance had been lowered to 10.6-10.8 million tonnes due to lower output in H1 2016 caused by a delay with signing long-term contracts with India and China.