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Chemicals firm Police will apply for two more licenses for extraction in Senegal, Equities News - EquitiesPoland.pl
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Chemicals firm Police will apply for two more licenses for extraction in Senegal

TAG'S: AZOTYTARNOW, Chemicals Industry

Listed chemicals firm Police, a unit of large-cap group Grupa Azoty, will apply for two more licenses for the extraction of natural resources in Senegal, the firm wrote in a press statement.

- We want to expand the existing exploration and extraction licenses by incorporating adjacent plots, Police CEO Krzysztof Jalosinski said as cited in the statement. Additionally, we got an offer to acquire new licenses.

 

The licenses already held will enable Police to meet the targeted output of 400k tones of phosphorites next year, the CEO added.

 

Within three years Grupa Azoty intends to launch production of phosphoric acid in Senegal and later on - a fertilizer production plant, the firm also said.

 

At end-August Police inked a USD 28.85 mln purchase of a 55% stake in a Senegalese firm with access to phosphorus deposits estimated at 56 mln ton and ilmenite deposits estimated a 1.5 mln ton.

Source: GPW/PAP

2013-12-03



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