Intrepid Announces $20 Increase to Trio® Price
March 15 2021 - 4:15PM
Intrepid Potash Inc. (NYSE:IPI) (“Intrepid”) today announced the
following increase to its Trio® price.
·Effective March 15, 2021, Intrepid increased its Trio® price by
$20 per ton on all product grades. Trio® price is now posted at $80
per ton above the 2020 summer-fill price.
“The strong fertilizer season continues as solidly profitable
farm economics support robust application across virtually all
markets.” said Bob Jornayvaz, Intrepid's Executive Chairman,
President, and CEO. “We are seeing strong commodity markets around
the world as evidenced by rising prices across a suite of farm
commodities such as soybeans, corn, cotton, sugar, cocoa, palm oil,
forage crops, fruits, and vegetables and also rising prices in
industrial commodities such as copper and oil, traditional
harbingers of improving global economics and growth. We have a
strong book of sales through the second quarter and expect
customers will continue to replenish warehouses as the season
continues. We expect to achieve this higher pricing on spot tons in
the second quarter.”
About Intrepid:
Intrepid is a diversified mineral company that delivers
potassium, magnesium, sulfur, salt, and water products essential
for customer success in agriculture, animal feed, and the oil and
gas industry. Intrepid is the only U.S. producer of
muriate of potash, which is applied as an essential nutrient for
healthy crop development, utilized in several industrial
applications, and used as an ingredient in animal feed. In
addition, Intrepid produces a specialty fertilizer, Trio®, which
delivers three key nutrients, potassium, magnesium, and sulfate, in
a single particle. Intrepid also provides water, magnesium
chloride, brine, and various oilfield products and
services.Intrepid serves diverse customers in markets where a
logistical advantage exists and is a leader in the use of solar
evaporation for potash production, resulting in lower cost and more
environmentally friendly production. Intrepid's mineral production
comes from three solar solution potash facilities and one
conventional underground Trio® mine.
Intrepid routinely posts important information, including
information about upcoming investor presentations and press
releases, on its website under the Investor Relations tab.
Investors and other interested parties are encouraged to enroll
at intrepidpotash.com, to receive automatic email alerts for
new postings.
Forward-Looking Statements:
This press release includes certain statements concerning
expectations for the future that are forward-looking within the
meaning of the federal securities laws. Forward-looking statements
contain known and unknown risks and uncertainties (many of which
are difficult to predict and beyond management's control) that may
cause Intrepid’s actual results in future periods to differ
materially from anticipated or projected results. Forward-looking
statements in this press release include, among others, statements
regarding Intrepid’s expectations for future Trio® pricing and its
ability to achieve that price in future spot markets. An extensive
list of specific material risks and uncertainties affecting
Intrepid is contained in its Annual Report on Form 10-K for the
year ended December 31, 2020, and other quarterly and current
reports filed with the Securities and Exchange Commission from time
to time. Any forward-looking statements in this press release are
made as of the date of this press release, and Intrepid undertakes
no obligation to update or revise any forward-looking statements to
reflect new information or events.
Contact: Matt Preston, Vice President of
FinancePhone: 303-996-3048Email:
matt.preston@intrepidpotash.com
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