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“The company is studying the report and will relate to it as customary within the framework of the public hearing,” ICL said in a statement to Reuters. In its 2017 annual report, the company said its ability to refinance debt in the next decade “.. depends, among other things, on extension of the concession beyond 2030.”. The factory’s new license, whose term has not been set, will include pumping limits coupled with financial incentives to use less water, the committee’s report said. The amount of territory open to quarrying and drilling for wells will be reduced.

Final recommendations due around September are not expected to differ materially from the interim report’s, said a senior government official, who asked not to be identified given the sensitivity of the issue, “We think everyone has an interest in making the tender earlier,” the official said, “The value of the asset gets lower as we get closer to university of georgia needlepoint cufflinks the end of the concession period and it’s unclear what will happen after 2030.”, When the company was privatized in the 1990s, the government kept a “golden share” that gave it some oversight, in addition to the obligation under the terms of the concession that the company seek its approval for any new investment..

Michael Vatine, an analyst with Halman-Aldubi Investment House, said ICL was likely to want to avoid a decade of close government scrutiny. “I think the company understands it needs to clear the fog regarding the long-term .. and not leave its investors feeling uncertain,” he said. With revenue of $5.4 billion in 2017, ICL manufactures a range of products from industrial chemicals to food additives. It is the world’s sixth-largest producer of potash and supplies about a third of the world’s bromine, used in fire retardants.

The company does not share publicly how much of its revenues come from the Dead Sea, where it also mines magnesium and salts, Costs at the factory are lower than at conventional mines, which are often hundreds of meters deep, Solar evaporation is less energy university of georgia needlepoint cufflinks intensive and the climate allows mountains of potash to be stored outside and sold when prices are high, According to their annual reports, ICL produced 3.7 million tonnes of potash at the Dead Sea in 2017 vs 2.1 million tonnes extracted by Arab Potash, which has exclusive rights on the Jordanian side that expire in 2058..

As ICL describes it, there is a virtually unlimited supply. Bidders in a new tender would likely include the usual suspects from the small number of leading potash producers, including Russia’s Uralkali, Germany’s K+S AG and Canada’s Nutrien, the report said. Committee chair Yoel Naveh said it was possible competitors would be scared off by ICL’s numerous advantages: not just right of first refusal but also its deep knowledge of the project. “The state needs to set a price and below that not give it to a private concessionaire,” he told parliament in June.

SEWARD, Alaska (Reuters) - Alaska fishermen are used to coping with fickle weather and wild ocean waves, Now they face a new challenge: the United States’ trade war with China, which buys $1 billion in Alaskan fish annually, making it the state’s top seafood export market, Beijing, in response to the Trump administration’s move to implement extra levies university of georgia needlepoint cufflinks on Chinese goods, last month imposed a 25 percent tariff on Pacific Northwest seafood, including Alaskan fish, in a tit-for-tat that has engulfed the world’s two largest countries in a trade war..

The results could be “devastating” to Alaska’s seafood industry, the state’s biggest private-sector employer, said Frances Leach, executive director of United Fishermen of Alaska, the state’s largest commercial fishing trade group. “This isn’t an easily replaced market,” she said. If the tariff war continues, she said, “What’s going to happen is China is just going to stop buying Alaska fish.”. For Alaska’s seafood industry, the timing could not be worse. The state has worked for years to attract the Chinese market, and just two months ago, Governor Bill Walker led a week-long trade mission to China in which the seafood industry was heavily represented.

Walker’s trade mission was a follow-up to an Alaska visit a year earlier by Chinese President Xi Jinping and his cabinet, Fishermen are worried, said Alan Noreide, a fisherman in the Alaska port town of Seward, where he delivers some of his catch to the local Icicle Seafoods plant, an Alaska-based seafood processing university of georgia needlepoint cufflinks company whose representatives accompanied Walker to China, “We’d rather be left to our own challenges that we have, We don’t need any more,” said Noreide, who focuses on Gulf of Alaska black cod and halibut..

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