Operational performance
Alexander Gilgenberg General Director of ApatitIn 2024, PhosAgro Group set a new record in annual agrochemical production, with the output rising by 4.3% to 11.8 mt.
This was driven by the implementation of investment projects under the Company’s long‑term development strategy designed to upgrade the existing facilities and develop new capacities. The main growth driver during the reporting year was the production of phosphate‑based fertilizers (the output of DAP/MAP increased by 1.0%, NPK by 23.3%, and МСР by 10.0%). These results came on the back of the Volkhov production site reaching its design capacity, as well as the increased production of key inputs such as phosphoric (up 5.1%) and sulphuric (up 5.3%) acids.
In 2024, sales of the Group’s agrochemicals rose by 4.1% supported by higher production volumes, strong efficiency of the Company’s distribution network in Russia and PhosAgro’s solid position in global markets. The highest growth rates in 2024 were recorded in Russia, Latin America, and Africa.
Growth was primarily driven by a 6.1% y‑o‑y hike in the sales of phosphate‑based fertilizers, while an accelerated rise in the sales of triple fertilizers was attributable to increased shipments of agrochemicals to the priority domestic market. Throughout the year, the demand for PhosAgro’s products remained stable across key agricultural regions of Russia. The Black Earth and Southern regions with their strong agricultural industry traditionally accounted for the largest share of shipments, but the Far East and North‑Western regions also continued to show growing interest in our products. PhosAgro Group’s leadership in the Russian market in 2024 helped increase the domestic sales of fertilizers over the year, with total agrochemical sales to Russian farmers rising to 3.34 mt.
PhosAgro Group is the largest producer of liquid nitrogen‑phosphorus fertilizers in Russia.
Our customers
are at the heart of our business.
In 2024, our product mix included 58 grades, covering varied fertilizers, feeds, and other products enjoying robust market demand.
Nitrogen‑phosphorus and complex fertilizers
Nitrogen‑phosphorus and complex fertilizers with micronutrients
Nitrogen‑based fertilizers
Water‑soluble and liquid complex fertilizers
Feed grade urea
Feed grade monocalcium phosphate
- High‑grade phosphate rock
- Syenite alkali aluminium concentrate
- Nepheline concentrate
- Sodium tripolyphosphate
ApaSil®
Apagips/Technogip
Upstream
Kirovsk Branch of Apatit mines apatite‑nepheline ore at six fields of the Khibiny deposits in Russia’s Murmansk region using both underground and open‑pit mining methods. PhosAgro Group’s feedstock reserves are of igneous origin, which means that they do not have concentrations of toxic heavy metals. The Company’s phosphate rock is extremely rich in P2O5.
| Deposit | Balance reserves, kt (categories А + В + С1 + С2) | Average P2O5 content, % |
|---|---|---|
| Kukisvumchorr | 322,935 | 14.09 |
| Yukspor | 436,928 | 13.72 |
| Apatitovy Cirque | 74,265 | 13.51 |
| Rasvumchorr Plateau | 350,015 | 12.06 |
| Koashva | 245,099 | 17.32 |
| Njorkpahk | 49,697 | 14.42 |
| Total | 1,478,939 | 14.02 |
Currently, the Company is shifting its resource base development profile from open‑pit mining to a higher share of underground mining.
In March 2024, we successfully commissioned the +10 m level at the Kirovsky mine. The development of this underground level began back in 2015 to compensate for the depletion of existing horizons as the scope of mining operations expanded and thus to maintain and ramp up production of apatite‑nepheline ore. This new level is expected to yield approximately 94 mt of ore by 2035.
The Company proceeded with its Vostochny mine development project seeking to intensify open‑pit mining. In 2024, total ore production as part of the project came in at 8.3 mt.
In 2024, the Company continued with the investment project to construct a new mine for the Rasvumchorr Plateau deposit. The commissioning of (start of ore mining at) the +430 m and +310 m levels is scheduled for 2025 and 2031, respectively. In 2024, significant progress was made on the construction of a ventilation system as partof the VWVD and RSRS projects, the main water drainage system and communication networks.
Efforts are underway to complete preparations for the mining of a block pillar under the Saami pit: in 2024, we developed engineering documentation, and finalised the construction of hydraulic structures and an auxiliary access road to the near‑entrance excavation site. Mining and capital construction works continue on the Gakman–Loparskaya water diversion tunnel, with the excavation of the Yuksporiok–Gakman tunnel completed. Completion of the works and start of ore mining are scheduled for 2028.
In December 2024, construction works were completed at the Gakman block, setting the stage for the start of mining. Ore extraction and capital mining operations in strategically important areas are set to begin in 2025.
In 2024, Apatit used 300 mln kWh of carbon‑free electricity at its production sites. This means that mineral fertilizers supplied by the Volkhov and Balakovo production sites in 2024 were manufactured using exclusively green power purchased from the hydroelectric power plants of TGC‑1.
Ore processing
| Item | 2022 | 2023 | 2024 | Change 2024 to 2023, % |
|---|---|---|---|---|
| Phosphate rock | 10,855.7 | 10,667.3 | 11,391.0 | 6.8 |
| Nepheline concentrate (incl. syenite concentrate) | 1,175.8 | 1,162.0 | 1,133.0 | –2.5 |
| Total | 12,031.5 | 11,829.3 | 12,524.0 | 5.9 |
Feedstock
| Item | 2022 | 2023 | 2024 | Change 2024 to 2023, % |
|---|---|---|---|---|
| Ammonia | 1,985.3 | 1,982.8 | 1,982.5 | –0.02 |
| Phosphoric acid | 3,199.4 | 3,345.3 | 3,515.4 | 5.1 |
| Sulphuric acid | 7,920.2 | 8,120.0 | 8,546.5 | 5.3 |
| Ammonium sulphate | 322.6 | 260.2 | 217.0 | –16.6 |
| Total | 13,427.5 | 13,708.3 | 14,261.4 | 4.0 |
Phosphate‑based fertilizers
| Item | 2022 | 2023 | 2024 | Change 2024 to 2023, % |
|---|---|---|---|---|
| DAP/MAP | 4,191.9 | 4,545.0 | 4,592.0 | 1.0 |
| NPK | 2,553.8 | 2,463.8 | 3,038.5 | 23.3 |
| NPS | 1,003.1 | 806.9 | 640.1 | –20.7 |
| APP | 114.0 | 199.7 | 193.0 | –3.4 |
| MCP | 361.6 | 373.3 | 410.6 | 10.0 |
| Total | 8,224.4 | 8,388.7 | 8,874.2 | 5.8 |
Notably, the MAP output surge of 8.9% y‑o‑y came, among other things, from the new production facility in Volkhov, erected as part of the Company’s long‑term development programme.
As part of phase 3 in the Balakovo branch development project, this production site started manufacturing diammonium phosphate, while also increasing the output of feed grade monocalcium phosphate by 10.0% after the implementation of a special project to that end.
In response to market demands, interchangeable NPS, NPK, and APP phosphate fertilizers varied as follows in 2024: a 20.7% decline in NPS production and a 23.3% increase in NPK output, with APP production down by 3.4%.
Nitrogen‑based fertilizers
| Item | 2022 | 2023 | 2024 | Change 2024 to 2023, % |
|---|---|---|---|---|
| Ammonium nitrate | 693.0 | 723.4 | 728.6 | 0.7 |
| Urea | 1,688.2 | 1,714.4 | 1,722.9 | 0.5 |
| Ammonium sulphate | 165.4 | 167.5 | 141.7 | –15.4 |
| Total | 2,546.6 | 2,605.3 | 2,593.2 | –0.5 |
Production of granulated ammonium sulphate declined by 15.4% while the output of urea and ammonium nitrate barely changed compared to 2023.
Other products
Sales of phosphate‑based fertilizers amounted to 9.1 mt, up 6.1% y‑o‑y. Accelerated rise in the sales of triple fertilizers was attributable to increased shipments of agrochemicals to the priority domestic market.
In the nitrogen segment, sales were down by 2.4% y‑o‑y mainly due to reduced exports.
| Item | 2022 | 2023 | 2024 | Change 2024 to 2023, % |
|---|---|---|---|---|
| Phosphate rock | 2,041.2 | 1,393.3 | 1,676.6 | 20.3 |
| Nepheline concentrate | 1,176.4 | 1,154.8 | 1,134.7 | –1.7 |
| Total | 3,217.6 | 2,548.1 | 2,811.3 | 10.3 |
| Phosphate‑based fertilizers | ||||
| DAP/MAP | 4,272.2 | 4,503.6 | 4,659.6 | 3.5 |
| NPK | 2,660.7 | 2,696.0 | 3,181.4 | 18.0 |
| NPS | 1,008.8 | 803.9 | 677.2 | –15.8 |
| APP | 111.6 | 198.1 | 187.4 | –5.4 |
| MCP | 349.5 | 376.6 | 399.1 | 6.0 |
| Total | 8,402.8 | 8,578.2 | 9,104.7 | 6.1 |
| Nitrogen‑based fertilizers | ||||
| Ammonium nitrate | 661.6 | 688.3 | 679.5 | –1.3 |
| Urea | 1,741.8 | 1,698.5 | 1,681.2 | –1.0 |
| Ammonium sulphate | 147.4 | 173.7 | 138.9 | –20.0 |
| Total | 2,550.8 | 2,560.5 | 2,499.6 | –2.4 |
| Total fertilizers | 10,953.6 | 11,138.7 | 11,604.3 | 4.2 |
| Other products | ||||
| STPP | 48.6 | 61.7 | 65.2 | 5.7 |
| Other | 221.5 | 225.3 | 229.2 | 1.7 |
| Total other products | 270.1 | 287.0 | 294.4 | 2.6 |