Pursuits

Oil Billionaire Gutseriev Turns to China for Potash Mine

Mikhail Gutseriev, chairman of RussNeft OAO.
Photographer: Chris Ratcliffe/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Irina Reznik and Yuliya Fedorinova

August 13, 2015 at 9:00 PM UTC

Updated on

August 14, 2015 at 8:35 AM UTC

This article is for subscribers only.

Russian billionaire Mikhail Gutseriev, who built his oil fortune with loans from Glencore Plc more than a decade ago, is now turning to potash with aid from China.

Gutseriev, 57, expects his new potash mine in Belarus to start production in 2020. China, the biggest consumer of the crop nutrient, is helping to finance his plan to supply it with as much as 1.8 million metric tons a year when the mine reaches full capacity.