Arab Potash Company reports JD95 million in net profit in Q3

AMMAN — The Arab Potash Company (APC) on Saturday announced that its net profit by the end of the third quarter, after taxes, provisions and royalties amounted to JD95 million.

According to a statement cited by the Jordan News Agency, mining fees during the January-September period reached JD43 million, while the APC provided donations of JD31 million.

APC Chairman of the Board of Directors Jamal Al Sarayrah said that the company, during the first nine months, managed to increase production by 5 per cent, achieving record production volumes of potash, hitting 2,004 tonnes, "the highest in the history of the company".

The chairman added that the company, its subsidiaries and affiliates contributed to increasing the Kingdom's foreign currency reserve by some $780 million in the first nine months of 2020.