FI Sentiment Survey Results February 2025

Anglo American and Codelco have signed a memorandum of understanding (MoU) with the aim of jointly developing their neigh-bouring Los Bronces and Andina copper mines in central Chile.

Yara says that it plans to wind down production of phosphate fertilizers and sulphuric acid at two sites in Brazil; Cubatão and Paulínia. The sites are expected to cease production by 3Q 2025, as part of what Yara describes as a strategy to concentrate on more sustainable operations focused on its main activity: the production of nitrogen fertilizers. At Cubatão, the suspension will affect unit 3 and the phosphate plants of unit 2, while units 1 and 2, responsible for the production of nitrogen, in addition to the mixer (unit 5), will continue to operate normally. Yara reported a net loss of $290 million in 4Q 2024, down $536 million from the $246 million profit it made in 4Q 2023. Revenues are down 11% for the year, leading Yara to announce a cost reduction and investment program of $150 million, with the aim of optimising its operations and focusing on strategic areas to ensure long-term sustainability. At the same time, the company has begun renewable ammonia production at Cubatão.

Rapidly increasing lithium production is projected to require several million t/a of sulphuric acid in the next few years, with China, the USA and Australia the main consumers.

ATOME has secured a non-binding agreement from Hy24 to invest $100-115 million in its flagship Villeta green fertiliser project in Paraguay.

More than 1,100 attendees gathered in Rio de Janeiro, 26-29 January, for the 2025 Fertilizer Latino Americano (FLA) conference.