New Acquisition in the Phosphate and Fertilizer Sector by Mimran Natural Resources

Feb 18, 2016, 11:17 ET from Mimran Natural Resources (MNR)

ZURICH, February 18, 2016 /PRNewswire/ --

Mimran Natural Resources (MNR) is currently in the process of taking over a 45% stake in the Senegalese AFRIG S.A. (former African Investment Group S.A.) which owns some of the most important phosphate and heavy mineral deposits in Senegal.

Since the entrance in August 2013 of Polish listed Grupa Azoty Zakłady Chemiczne "Police" S.A, a subcompany of one of the largest European fertilizer manufacturers Grupa Azoty S.A., AFRIG S.A. has become a strategic part in the company's phosphate rock supply chain, assuring sustainable feedstock deliveries and moreover offering considerable operational cost savings for the Polish manufacturer. According to many press releases made by parent Grupa Azoty Board Members and corporate websites, AFRIG S.A is to enter into the fertilizer manufacturing sector in West Africa by constructing in Senegal the countries second based phosphoric acid plant besides the existing Industries Chimiques du Senegal (I.C.S.) owned by Indorama Corporation.

SOURCE Mimran Natural Resources (MNR)