PhosAgro, Ma’aden Sign MoU to Focus on Phosphate-Based Fertilisers

PhosAgro and the Saudi Arabian Mining Company (Ma’aden) have signed a landmark memorandum of understanding (MoU) that will provide new motivation to the development of the global phosphate-based fertiliser industry.

The agreement aims to contribute to the sustainable development of the companies, as well as to domestic and global food security by helping to secure the uninterrupted supply of safe and high-quality fertilisers to agricultural producers around the world. 

Under the MOU, two of the world’s leading phosphate-based fertiliser producers agreed to share best practices and knowledge related to technical aspects of production, environmental protection, and workplace health and safety, including from PhosAgro subsidiary NIUIF, which is Russia’s only research and development institute for fertilisers and insectofungicides.

The parties will also undertake a number of measures to support their long-term sustainable development, including participation in a range of initiatives aimed at ensuring the reliability and stability of supply of phosphate-based fertilisers to agricultural producers worldwide.

“PhosAgro and Ma’aden both place great importance on sustainability and stability, both in terms of developing our businesses and in terms of the important role we play in supporting food security at the domestic and international levels. This landmark MoU is an important achievement for both of our companies and will help, among other things, to ensure greater discipline to secure the stable supply of phosphate-based fertilisers to customers around the world,” said Andrey Guryev, CEO of PhosAgro.

“We are happy to cooperate with PhosAgro, and look forward to the opportunities that sharing knowledge and best practices can bring both of our companies. Like PhosAgro, Ma’aden is committed to ensuring discipline and stability in the supply of high-quality phosphate-based fertilisers. This will ultimately benefit all of our stakeholders, helping to enhance the sustainability of global food security,” added Khalid bin Saleh Al-Mudaifer, president and CEO, Ma’aden.