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PJSC Uralkali
Traded as MCXURKA
Industry Chemical
Founded 1930
Headquarters Berezniki, Perm Krai, Russia
Key people
Sergey Chemezov (Chairman)
Dmitry Osipov (CEO)
Products Potash fertilizers
Revenue Increase US$3.32 billion (2013) [1]
Profit Increase US$665.9 million (2013)
Number of employees
Website www.uralkali.com
Central office in Berezniki

Uralkali is a Russian potash fertilizer producer and exporter. It is traded on the London Stock Exchange and Moscow Exchange using the symbol, URKA.[2] The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russian Federation). Uralkali employs ca.11,300 people (in the main production unit).

The company produces standard and granular potassium chloride (KCl) and supplies it (through its own trader Uralkali Trading) to over 60 countries, with the major markets including Brazil, India, China, Southeast Asia, Russia, USA, and Europe. In 2013 Uralkali produced 10 million tonnes of potash (KCl)[3]

Uralkali develops Verkhnekamskoye field of potassium and magnesium salts, world's second largest in terms of potash ore reserves. The Company’s total ore reserves total approximately 8.2 billion tonnes. Uralkali holds the development licences for the Ust-Yayvinsky and Polovodovsky blocks at the Verkhnekamskoye field, which contain ore reserves of 1.291 and 3.074 billion tonnes respectively. Uralkali also holds the development licence for the Romanovsky Block of the Verkhnekamskoye deposit with the estimated reserves of 385 million tonnes of sylvinite ore.[4]

As of 20 December 2013, Uralkali's shareholder structure is as follows: 33.26% free float, 21.75% ONEXIM Group, 19.99% UralChem, 12.5% Chengdong Investment Corporation, 12.5% treasury shares.[5]


In 1926, the USSR State Planning Committee Presidium approved a resolution to develop the Soviet potash industry around Solikamsk, Perm region, and its adjacent fields. In 1934 the First Potash Mining Complex was launched in Solikamsk, later followed by another two mine and plants in Solikamsk and fours mines and plant in Berezniki. The Soyuzkali Group was renamed as Uralkali in 1964.

Uralkali became a joint stock company in 1992 encompassing production facilities in Berezniki, while production facilities in Solikamsk formed OJSC Silvinit.[6] The major shareholding of Uralkali was accumulated by Dmitry Rybolovlev. In summer 2010, Rybolovlev sold his stake in Uralkali to investment vehicles, which were beneficially owned by Suleiman Kerimov, the metals tycoon, Alexander Nesis, another metals tycoon, and Filaret Galchev, a cement magnate, respectively.[7]

Recent news[edit]

In December 2010, Uralkali announced plans to buy another Russian potash producer Silvinit; together they would form one of the world's largest potash producers.[8] The merger was finalized in June 2011, with the combined Uralkali accounting for about 20% of the world's potash production.[9]

On 9 November 2012, Chengdong Investment Corp. (СIC), a unit of the sovereign wealth fund China Investment Corporation, bought bonds from the shareholders with maturation in 2014 which were exchangeable into a stake in Uralkali. CIC would be able to convert its investment into a 12.5 percent stake in Uralkali’s ordinary shares.[10] In September 2013, the bonds were converted and CIC thus acquired a 12.5% stake in the firm, rumoured to be worth around $2 billion.[11]

On 30 July 2013 Uralkali announced that it was pulling out of the Belarus Potash Corporation export JV with Belaruskali, through which it exported potash from 2005 to July 2013, and said it would sell the fertilizer on its own. This move sent shares of potash companies tumbling on speculation that potash prices would plunge.[12] This dispute arose over foreign sales and top executives at Uralkali were accused of a criminal scheme. On 26 August Belarus detained the company's then-CEO Vladislav Baumgertner after inviting him to Minsk for talks.[13] In September 2013 he was moved from solitary confinement and put under house arrest.[14] Uralkali insists that persecution of its employees by Belarusian officials is politically motivated.[15] On 14 October Russia opened a criminal investigation into Vladislav Baumgertner as well, and investigators announced they will request his extradition from Belarus.[16] In November 2013 Vladislav Baumgertner was extradited to Russia and later put under house arrest.[17] In September 2014 he was released on bail.[18]

In December 2013 Suleiman Kerimov sold his shares (21.75%) to ONEXIM Group, while Uralchem acquired 19.99%, both becoming key shareholders in Uralkali.[19]


External links[edit]