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 the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.