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Australia’s IPL halts talks to sell fertilizer unit IPF

  • Market: Fertilizers
  • 10/07/24

Australian chemicals and fertilizer producer Incitec Pivot (IPL) has stopped negotiations to sell Incitec Pivot Fertilizers (IPF) to Indonesian fertilizer producer Pupuk Kalimantan Timur (PKT).

The sale fell through as both parties were unable to complete the sale in an acceptable timeframe for IPL to start their on-market buyback of up to A$900mn ($606.5mn). IPL will focus on its buyback program in the near term, it said on 10 July.

IPL previously said in May that the sale of its fertilizer businesss was in "advanced negotiations".

IPL's first-half 2024 earnings before interest and tax (ebit) fell by 77pc on the year to A$10mn, it said in its first-half 2024 report on 16 May. Its distribution business continues to perform well this year, while 2024 financial year production volumes at Phosphate Hill are likely to be closer to the lower end of the range of 730,000-770,000t indicated in its first-half 2024 report, the company said.


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Vessel nominations roll in for RCF urea tender


11/02/25
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11/02/25

Vessel nominations roll in for RCF urea tender

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News

Rain shuts Australian copper, fertilizer rail line


11/02/25
News
11/02/25

Rain shuts Australian copper, fertilizer rail line

Sydney, 11 February (Argus) — Torrential rains have shut Australia's Mount Isa rail line, which links phosphate and copper mines to the Port of Townsville in Queensland, with no reopening timeline in place. "The North Coast and Mount Isa rail lines have suffered severe damage with approximately 177 defects found so far," rail operator Queensland Rail (QR) said on 10 February. But the company has not yet examined parts of the line because of safety concerns, QR told Argus , preventing it from coming up with a reopening plan. Mining firm Glencore's Mount Isa copper and Australian manufacturer Incitec Pivot's Phosphate Hill fertilizer mines use the line to move commodities from production sites to the Port of Townsville, for export or distribution to other parts of Australia. Australian mining firm Centrex also uses the line to ship phosphate rock from its Ardmore phosphate project. Wet weather forced the Port of Abbot Point, located just south of Townsville, to close from 31 January to 5 February . The Port of Townsville remained open throughout that period, despite large parts of the city flooding. Incitec Pivot's Phosphate Hill plant is also currently facing non-weather-related challenges. The company lowered the mine's forecast production by 7pc to 740,000-800,000t for the 2025 financial year to 30 June, because of gas supply challenges. Argus ' MAP/DAP fob Townsville price was last assessed at $620-640/t on 6 February. By Avinash Govind and Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Yara, NYK Line sign time charter for NH3-fuelled MGC


10/02/25
News
10/02/25

Yara, NYK Line sign time charter for NH3-fuelled MGC

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News

Indonesian, Malaysian MOP, NPK imports rise in 2024


10/02/25
News
10/02/25

Indonesian, Malaysian MOP, NPK imports rise in 2024

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