K+S will end potash production at Sigmundshall in late 2018 as crude salt reserves dwindle and mining conditions become more “demanding”, the German fertilizers producer announced on Wednesday.
In a move that impacts around 5% of the company’s 14,000-strong workforce, K+S will cease fertilizer operations at the site near Hannover by the end of next year.
“Mining conditions for extracting the raw materials at a depth of more than 1,400 metres are reaching human and technological limits,” the Kassel-based company said.
“In talks with workforce representatives and the trade union, new prospects and solutions are being discussed for the approximately 730 employees of the site.”
K+S noted that over the past three years, increased mining expenses have resulted in a steady decline in the site’s productivity.
“The decision to close the plant is not an easy one for us when we consider the workforce, which has done everything to make its site successful,” added K+S’ chairman Burkhard Lohr.
“But all those involved have known for a long time that the crude salt reserves of the Bokeloh salt deposit are dwindling. Mining conditions are becoming more and more demanding. Despite the great commitment of the employees, the Sigmundshall plant can no longer be profitably operated.”
Discussions over the site’s commercial development started in late 2016, with one potential option the operation of the aluminium-salt slag recycling facility (REKAL facility) independently of potash production.
Source: ICIS News
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
