Potash fertilizer producer and distributer, Migao Corporation (TSX: MGO)(“Migao”) has signed a one year contract to distribute approximately 12,000 tonnes of agricultural grade potassium sulphate produced by Russia’s Rusal.
Rusal is the world’s largest aluminum and alumina producer, with operations in 19 countries. The potassium sulphate is a by-product from Rusal’s Achinsk Alumina Refinery in the Krasnoyarsk Region of Russia.
Migao expects the first shipment to arrive in China this month. “The one-year contract is for approximately 12,000 tonnes of agricultural grade potassium sulphate with an option to increase the volume if required,” Migao stated.
“Migao will be distributing the potassium sulphate fertilizer for fruit and vegetable applications in China.”
"We are very pleased to have an agreement with Rusal, one of Russia's largest and trusted corporations," said Mr. Liu Guocai, Chief Executive Officer of Migao. "Rusal selected Migao to access the Chinese market because of our reputation as an established and respected leader in the Chinese fertilizer market. We expect this relationship to expand after the initial term concludes successfully."