Annual Report 2012

Our year

Strong progress towards
our long-term goals

We are pleased with our achievements in 2012 which were
in line with the Group’s long-term development strategy.



Acron’s new 350 ktpa urea facility (Urea-1000) was commissioned to undertake comprehensive testing activites.

Preparation is also underway for the construction of a new 700 ktpa ammonia unit (Ammonia-4).


The Oleniy Ruchey mine

Construction of the first stage of the Oleniy Ruchey mine was completed. The mine delivered its first shipment of apatite concentrate to the Group’s processing facilities in December. Construction of the mine’s second stage is in progress.


Development at the Talitsky mine

Acron engaged with Vnesheconombank, Eurasian Development Bank and Raiffeisenbank as investors in the Talitsky mine project. The Group raised over USD 400 million in exchange for a 38.05% stake in Verkhnekamsk Potash Company, which will be allocated to the financing of construction work.

In November, VPC obtained a permit and began preparations for shaft sinking at the Talitsky mine site.

Exploration work was finished and a resource report for the Foam Lake project was obtained.

Financial investments

In 2012, Acron acquired a 13.78% stake in the Polish fertiliser producer Azoty Tarnow. As a result of Azoty Tarnow and ZA Pulawy merger, the Group’s stake in Grupa Azoty was 8.91%.

Corporate governance

Acron’s authorised capital was decreased by 15%.

Acron’s new Dividend Policy Provisions were approved, providing for allocation of at least 30% of IFRS net profit for dividend payments twice a year.


Increasing the number of employees

We continue to implement the Fair Work Programme at our production facilities.

The Group hired new employees for its large investment projects, namely construction of new mining and processing complexes and facilities. In 2012, the number of employees increased 10% to 15,644.



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