Coromandel secures phosphate dominance with new major stake in African mining company BMCC

Coromandel secures phosphate dominance with new major stake in African mining company BMCC

Coromandel International Limited, a leading player in India’s agricultural solutions industry, announced a significant development in its pursuit of long-term supply security for phosphate fertilizers. The company disclosed that it will increase its shareholding in Baobab Mining and Chemicals Corporation (BMCC), a rock phosphate mining company based in Senegal, to 53.8%. The strategic move, finalized […]

Coromandel to acquire stake in Senegalese rock phosphate miner BMCC

Coromandel to acquire stake in Senegalese rock phosphate miner BMCC

India-based Coromandel International has agreed to acquire a stake of 45% in Baobab Mining and Chemicals Corporation (BMCC), a Senegalese rock phosphate mining company, for $19.6 million (INR 150 crores). Apart from the consideration, Coromandel International will provide a loan of $9.7 million (INR 75 crores) to Baobab Mining and Chemicals. The Indian phosphatic fertilizer […]