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BRIEF-Incitec Pivot Noted Closure Of Rail Line Between Townsville And Phosphate Hill

Published 11/02/2019, 12:09 pm
Updated 11/02/2019, 12:10 pm
BRIEF-Incitec Pivot Noted Closure Of Rail Line Between Townsville And Phosphate Hill
IPL
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Feb 11 (Reuters) - Incitec Pivot Ltd IPL.AX :

* NOTED CLOSURE OF RAIL LINE BETWEEN TOWNSVILLE AND PHOSPHATE HILL

* IPL BEGAN A PROGRESSIVE SHUTDOWN OF PLANTS WITHIN ITS PHOSPHATE HILL FACILITY OVER WEEKEND

* IPL'S PHOSPHATE HILL FACILITY HAS NOT SUSTAINED ANY DAMAGE

* TOWNSVILLE FERTILISER DISTRIBUTION AND PORT FACILITIES SUFFERED ONLY VERY MINOR DAMAGE AND ARE OPERATIONAL

* CURRENTLY ESTIMATES IMPACT OF RAIL CLOSURE WILL GIVE RISE TO LOST EARNINGS BEFORE INTEREST AND TAX OF ABOUT A$10M PER WEEK FROM FEB 9

* CONTINUING TO RUN EACH PLANT AT PHOSPHATE HILL FOR AS LONG AS POSSIBLE GIVEN STORAGE AND INPUT CONSTRAINTS

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