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Belarus, Turkmenistan on track to start potash mine in March 2017

Published 2016-05-11, 08:41 a/m
© Reuters. Belarus, Turkmenistan on track to start potash mine in March 2017
URKA
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MINSK, May 11 (Reuters) - Belarus and Turkmenistan are on
track to start their new potash mine in March 2017, the
presidents of the two countries said on Wednesday after a
meeting in Minsk.
The Garlyk potash mine in Turkmenistan, the largest
Belarussian project abroad, is a rare case of new capacity
coming onto the market for the crop nutrient that has been hit
by weak demand and low prices.
"We agreed today that the mine would be launched and would
give the first fertiliser within the prescribed period of time,"
Belarus's Alexander Lukashenko told reporters.
"This facility should be launched at the end of March 2017,"
Turkmenistan's Kurbanguly Berdymukhamedov added.
Belarussian state-owned Belaruskali, the world's
second-largest potash producer after Russia's Uralkali
URKA.MM , has said the Garlyk mine will produce up to 200,000
tonnes in its first year.
When the agreement on Garlyk's construction was signed by
the two countries in 2010, the project was expected to start
production in 2015 and eventually reach an annual output of 1.4
million tonnes.
It remains unclear when the mine will reach output of 1.4
million tonnes and where its production will go.
Turkmenistan's domestic needs are estimated at approximately
700,000 tonnes per year and the country intends to export the
rest, Belarus' state news agency Belta reported in 2015.
Belarus already owns large trader Belarussian Potash Company
(BPC), which exports the fertiliser to China, India, Brazil and
other major consumers. Its first-quarter exports fell by one
third to 1 million tonnes due to the weak global demand.

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