Uralkali Settles US Antitrust Claims

21.09.2012
Uralkali Settles US Antitrust Claims

Uralkali (LSE: URKA; “the Company”) informs that on 20 September 2012 the Company signed settlement agreements to exit the US antitrust case. The agreements were signed with direct and indirect plaintiffs for USD 10 million and USD 2.75 million respectively and shall come into effect after final approval of the US federal district court for the Northern District of Illinois.

In September 2008 potash consumers brought civil antitrust complaints in the US federal courts against Uralkali and BPC, as well as certain other potash producers, including Belaruskali, Potash Corp, Mosaic, Agrium and Silvinit. The complaints alleged price fixing violations of the U.S. Sherman Act since 1 July 2003.

Under the settlement agreements, Uralkali would be released from any liability in connection with the plaintiffs' claims. BPC as a defendant would be also released as well as other Uralkali and Silvinit traders – IPC and Uralkali Trading SA. Uralkali did not admit any liability in the settlement agreements. We believe that these settlements are in the best interest of the Company to avoid the burdens, costs and distraction of protracted litigation.

Uralkali (www.uralkali.com) is one of the world’s largest potash producers with a market share of about 20%. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Territory, Russia). Uralkali employs ca. 12,500 people (in the main production unit). Uralkali’s shares and GDRs are traded on the RTS-MICEX and LSE, respectively.

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Cardinal rules

Smoking in mines is prohibited.
Work at heights without wearing a safety harness is prohibited.
Work in electrical installations under voltage is prohibited.
It is forbidden to perform work and stay in the bottomhole zone during the operation of the mining machine.
Loading and unloading operations when people are in the danger zone are prohibited.
Working in underground mines with unsecured and/or unassembled roofing is prohibited.
It is forbidden to carry out repairs and maintenance of conveyors without disconnecting from energy sources, use of conveyors for transfer of people and goods (materials and/or equipment), crossing (either above or under) operating conveyors by employees are not allowed.
It is forbidden to carry out welding and flame work in underground mines and mine buildings without the necessary safety measures preventing fire.