Uralkali Obtains Licence to Develop Romanovsky Block of Verkhnekamskoye Deposit

31.07.2014
Uralkali Obtains Licence to Develop Romanovsky Block of Verkhnekamskoye Deposit

Uralkali (Company; LSE: URKA), one of the world’s largest potash producers, has obtained a licence to develop the Romanovsky block of the Verkhnekamskoye deposit of potassium and magnesium salts.

The terms of the licence allow the Company to conduct geological exploration of subsurface resources, as well as the exploration and extraction of potash, magnesium and mixed chloride salts.

The total value of the licence acquired in an auction is RUB 325,829,900 (approximately USD 9.12 million1). The new block has estimated commercial reserves of 385 million tonnes of sylvinite ore2.

The expiration date of the license is 25 July 2039.


Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore-treatment mills situated in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs ca.11,300 people (in the main production unit). Uralkali’s shares and GDRs are traded on the Moscow Exchange and London Stock Exchange, respectively.



1 According to the exchange rate of the RF Central Bank
as of 31 July 2014: 1 USD=35.7271 RUB

2 According to Uralkali’s estimates

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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.