Kazakhstan Potash: successful Chongqing JV first quarter

Company News

by Jessica Amir

Kazakhstan Potash Corporation Limited (ASX:KPC) and its Joint Venture (JV), focused on developing a fertiliser logistics and distribution hub for all major material fertilisers in China, has completed its first quarter of operations.

The ASX listed explorer and its Chinese Chongqing JV (with material company the Chongqing Material of Agricultural Production (Group) Co. Limited) reported its operation profit was $120,634 for the quarter ending 31 March 2017.

The JV is focusing on fertiliser trading and logistics and aims to become one of China’s leading companies in the sector.

Kazakhstan Potash is assisting the JV in sourcing finance and it will also provide fertilisers to the JV, from its projects in Kazakhstan.

Shares in Kazakhstan Potash Corporation Limited (ASX:KPC) last traded at 4.7 cents.
 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.