Reports Q1 potash production 2.7M tons, -8% y/y
In Q1, the output declined compared to the same period last year as a result of the decrease in Uralkali's production capacity following the accident at the Solikmsk-2 mine, and lower levels of demand in the key markets. The spring high water season expected from the middle of May to the end of June, as well as the success of the measures implemented to prevent brine inflow into the mine will impact the conditions in the Solikamsk-2 mine. Uralkali cooperates with leading Russian and international institutes to find technical solutions, which would allow the Company to continue backfilling the worked-out areas of the mine. Uralkali may review its annual output target for 2015 currently set at 10.2 million tonnes of KCI depending on the demand in the market and further developments at the Solikamsk-2 mine