Phosagro Approves Mining Capacity Hike

Phosagro (Moscow), Russia's biggest integrated producer of phosphate fertilizers, has approved a rubles7-billion capital expenditure budget for its Apatit mining subsidiary in 2012. The plan will be funded from Phosagro's own cash and from borrowings, the company says. The program includes an expansion of capacity at Apatit's Kirovsk, Russia mine. The site's mining extraction capacity is due to increase by 2 million m.t./year of apatite-nepheline ore, to more than 14 million m.t./year of ore by 2015. Other planned projects at Kirovsk include efficiency-...

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