IMC Montan (Moscow, Russia)

A. V. Zhura, Project Evaluation Manager, Candidate of Economic Sciences
I. V. Pleskunov, European Business Development Director, pleskunov@imcgroup.ru

MGIMO University—Odintsovo Branch, Ministry of Foreign Affairs of the Russian Federation (Odintsovo, Russia)
D. P. Tibilov, Professor at Innovation Management Department, Doctor of Economic Sciences

Potash is a strategic mineral used to 85 % in production of fertilizers and the rest is utilized in the chemical industry. The uniqueness of potassium as an element consists in its necessariness as the main nutrient for plants, animals and human beings. This factor governs the special role of the potash industry in the global food safety. Over the last two decades, the global potash production demonstrated a steady-state growth tendency although the process featured considerable volatility governed both by economic cycles and geopolitical events. The key trends in development of the global market of potassium-based fertilizers are discussed, the problems in potash production are identified and the prospects of the global market development are described. The global market environment is evaluated in terms of resources and pricing logic. High geographical concentration of production creates systemic risks for the global food safety. A substantive problem is the environmental impact of potash production. Underground mining generates large volumes of salt dumps and brines which pose a threat to the environment. The capital capacity of the industry and the extended timeframes of implementation of new projects deter new entrants and limit potential diversification of deliveries. Improvement of mineral mining and processing methods can facilitate development of deposits with complicated occurrence of potash beds, and promote enhancement of their extraction ratio.

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