PRN: CRU: Egypt Looks to Capitalise on its Low Phosphate Rock Cost Base

11/ago/2017 10:30:21 PR Newswire Turismo Contatta l'autore

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CRU: Egypt Looks to Capitalise on its Low Phosphate Rock Cost Base


LONDON, August 11, 2017 /PRNewswire/ --

Egyptian phosphate rock miners achieve some of the lowest production costs in the 200 Mt/y industry, allowing them to continue exports in a difficult pricing environment. However, Egyptian operators are now following the trend of capturing greater value through downstream capacity and aim to ramp-up projects over the next five years. Ahead of the publication of the 2017 Phosphate Rock Cost Report, CRU undertook a research visit to Egypt's largest mine, Abu Tartour, as the mine's operator, Misr Phosphate Co., plans to construct its first phosphoric acid plant at the site.

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Egyptian phosphate rock is low cost but also low value
Downstream facilities in Egypt remain modest in capacity despite the country's status as the seventh largest phosphate rock producer in the world. Consequently, over 60% of Egyptian phosphate rock is exported making the nation the third largest phosphate rock exporter after Morocco and Jordan. The low quality of Egyptian rock (usually less than 30% P2O5) makes it cheap and most is used in lower value SSP or direct application (DAPR) markets.

Miners can nevertheless endure low prices as they achieve some of the lowest production costs in the industry. As the global market undergoes change, with the share of traded rock to total demand shrinking, Egyptian rock producers now have advanced plans for downstream facilities, despite the quality limitations.

CRU phosphate consultants, Yoston Montoya Garcia and Alexander Derricott, with fertilizer cost consultant, Humphrey Knight, were provided with a unique opportunity to visit Egypt's largest phosphate rock mine, Abu Tartour. This allows CRU to better understand how Misr Phosphate Co., and the country as a whole, achieves such low operating expenses.

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About CRU
CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events.

Since our foundation in 1969, we have consistently invested in primary research and robust methodologies, and developed expert teams in key locations worldwide, including in hard-to-reach markets such as China. CRU employs over 250 experts and has more than 10 offices around the world, in Europe, the Americas, China, Asia and Australia - our office in Beijing opened in 2004.

When facing critical business decisions, you can rely on this first-hand knowledge to give you a complete view on a commodity market. And you can engage with our experts directly, for the full picture and a personalised response.

CRU - big enough to deliver a high quality service, small enough to care about all of our customers.

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