INCITEC PIVOT LIMITED

INCITEC PIVOT LIMITED (ASX: IPL)

Incitec Pivot Limited (IPL) has been notified by its gas supplier, Power and Water Corporation (PWC), of a reserves shortfall under the gas supply agreement for IPL's Phosphate Hill plant.
The additional cost of sourcing shortfall gas for the remainder of FY23 is expected to be $15m-$20m, bringing the total FY23 EBIT impact to $75m-$90m.
PWC indicates that the reserve shortfalls are expected to be ongoing beyond FY23 for the remainder of the term of the Gas Supply Agreement, which lasts until mid-2028.

2023-06-06 15:25:00

IPL announces new long-term gas supply agreement for its Moranbah ammonium nitrate plant.
Gas to be supplied from the Moranbah Gas Project on competitive terms.
New gas supply agreement to commence in April 2026 and continue until at least March 2033, with an option to extend until March 2037.

2023-05-16 18:47:00

IPL secures exclusive 20-year offtake agreement with Perdaman for up to 2.3 million tonnes per annum of granular urea, starting from mid-2027.
Offtake agreement is expected to provide competitively priced urea and add an estimated incremental EBIT of approximately A$45 million per annum to the IPF business.
Up to 50% of the urea to be marketed within Australia, with the remainder to be exported to international markets.

2023-04-21 16:18:00

Incitec Pivot Limited (ASX: IPL) to sell its ammonia facility in Louisiana, USA to CF Industries Holdings, Inc. for US$1.675bn.
IPL secured a 25-year ammonia supply agreement with CF Industries Holdings for up to 200,000 short tonnes of ammonia per annum to support the Dyno Nobel Americas explosive business.
The divestment of Waggaman is subject to US anti-trust regulatory clearance and the completion of other customary closing conditions within 24 months.

2023-03-20 18:00:00