ob_history.jpg

History - Key Milestones

​Year​Event
​1906​Dr. E.T. Mellor described the presence of the mineral Apatite in the Palabora Igneous Complex.
​1940​The eminent geologist, Dr. Hans Merensky, started mining vermiculite at Phalaborwa and his extensive prospecting activities proved the phosphate reserves to be truly vast.
​1951Foskor was founded with a £1 million loan from the IDC.
​1953Foskor plant in Phalaborwa comissioned. 50k tons of concentrate were produced in the first year. Current production 2 million tons per year.
​1974Tailings agreement with Palabora Mining Company (PMC) providing 10 million tons of ore resulting in an extra 1 million tons of rock concentrate per year.
​1976PMC tailings floatation plant commissioned in Phalaborwa.
1976​​A phosphoric acid and two sulphuric acid plants were commissioned by Triomf Kunsmis in Richards Bay
​1984​Triomf became Indian Ocean Fertiliser (IOF)
​1984​The granulation plant was commissioned in Richards Bay
​1987​Foskor became a 30% shareholder in Indian Ocean Fertilizers (IOF) in Richards Bay. (IOF was established in 1976 as Triomf Kunsmis by Louis Luyt).
​1987​Started exporting MAP to Australia and Brazil.
​1993​First shipment of phosphoric acid was dispatched to India from Richards Bay after the lifting of sanctions during September 1993. (Contract signed with MFC).
​1994​Foskor raised its IOF shareholding to 50%
​1997Foskor became a 100% shareholder of IOF.
​1999​Extension 8 beneficiation plant was commissioned in Phalaborwa. It increased the plant throughput by 4.4 million tons per year.  The plant has the capacity to increase the output of rock concentrate by 500k tons per year.
​2000​TThe Phalaborwa and Richards Bay plant were integrated into one Group consisting of two operating divisions - Mining and Acid.
​2001​IOF became Foskor Richards Bay
​2002Richards Bay doubled its acid production capacity by commissioning 2nd plant.
​2002​Commissioned Turbo Generator in Richards Bay with capacity of 27 MW.
​2002​Foskor started exporting MAP and DAP into SADC
​2003​Foskor acquired a 5% share in Godavari Fertilizers and Chemicals Ltd India.
​2004​Foskor enters into a Business Assistance Agreement with Coromandel Fertilizers Limited from India who then obtained a 2.5% shareholding in Foskor.
​2005IDC loan to Foskor increased from R544 million to R1.4 billion​
​2008Coromandel increased their shareholding in Foskor to 14% and SUN India obtained a 1% shareholding in Foskor.
​2008Phalaborwa's hauling capacity increased to 26 million tons per year with the addition of 4 new 180-ton haul trucks.
​2009Mining from a new open cast mine in the Southern Pyroxenite ore body in Phalaborwa started and a new  tolling agreement with PMC was signed to utilise spare milling capacity to supply milled pyroxenite ore to the Foskor plant.
​2009​Foskor returns an historical high net profit of R2.6 billion, largely driven by record international market prices for P205, high efficiency and production levels at both the mining and acid divisions.
​2009​Foskor repaid the IDC loan of R1.4 billion and declared a dividend of R1.3bn.
​2010​Foskor successfully concluded the BEE transaction with Manyoro consortium (15%), employees trust (6%) and communities trusts (5%).
​2010​Foskor accredited for training in Metallurgy, fitting and turning and mineral excavation.
​2010​IDC approved a R1 billion facility which was used mainly to finance the Pyroxenite Expansion Project II (PEP II) at the mine in Phalaborwa.
​2011​The R 1.2 billion PEP II completed, resulting in an increase in throughput of Extension 8 of 240 000 tons per year and North Pit Pushback to provide more throughput to the rest of the plant.
​2012​The export corridor between Phalaborwa and Maputo was opened.
​2013​Commenced with a feasibility study on a possible JV with General Nice from China to put up a plant in Phalaborwa to beneficiate 1 million tons of Magnetite per year.
​2014​IDC approved a R700 million facility for north pit expansion, D-stream floatation, tank replacements and 4th Belt Filter.

 

milestones1.jpg          milestones2.jpg