Intrepid Announces $80 Increase to Potash Price; $50-$55 Increase to Trio® Price
August 09 2021 - 7:00AM
Intrepid Potash Inc. (NYSE:IPI) (“Intrepid”) today announced the
following increase to its potash and Trio® pricing, effective
August 9, 2021.
- $80/ton increase to Ag potash price
at all locations and for all product grades. Intrepid is now posted
at $200/ton above the 2021 summer-fill price levels announced in
May 2021.
- $50-$55/ton increase to Trio® price
depending on grade.
“Attractive grain prices and farmer economics continue to
support the global and domestic potash market,” said Bob Jornayvaz,
Intrepid’s Executive Chairman and CEO. “This price increase aligns
our posted pricing with the spot potash price levels we are
currently seeing in the Cornbelt, and we expect this announcement
will give our customers the confidence to place orders for fourth
quarter delivery. With robust demand expected to continue into the
spring season, we plan to limit our potash and Trio® orders to
historic customers and volumes in the fourth 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 expectation of its customer’s response to the
price increase, its ability to achieve these price increases, and
expectations regarding the future demand for potash and Trio®. 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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