BPC earnings to make at least $5bn in 2009

In 2009 earnings of Belarusian Potash Company will make at least $5 billion, First Vice Premier of Belarus Vladimir Semashko told media commenting on results of the government session held by the President of Belarus on May 22 to discuss the BPC operation. Vladimir Semashko remarked, after uniting efforts of two shareholders (Belaruskali and Uralkali) Belarusian Potash Company managed to raise the average price for potash fertilisers from $150 to $650 per tonne. One of these days the BPC contracted to deliver fertilisers to South-eastern Asia at $1,000 per tonne. On the whole, said the official, the President had named the BPC performance successful. While in 2004 earnings from selling 7.1 million tonnes of potash fertilisers totalled $751 million, this year’s earnings are expected to exceed $3 billion with the same volume of sales. The profitability of Belaruskali’s operation has also improved. It will allow commissioning the fifth mine in Svetlogorsk ahead of schedule in May 2009 and the sixth mine in 2012, said Vladimir Semashko.