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African Potash shares fall on delay in Zambian COMESA payments

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African Potash shares fall on delay in Zambian COMESA payments

African PotashLtd. Chairman Chris Cleverly on March 29 assured investors that thecompany will receive a delayed payment against the of 20,000 tonnes of urea fertilizerstock to a Zambian buyer in full.

The company was expecting gross revenue of about US$10.2million with a sale price of US$508 per tonne for this dispatch, which was partof an October 2015 supplydeal for 50,000 tonnes of fertilizer under the the company has withthe Common Market for Eastern and Southern Africa, or COMESA.

The London-listed company's shares were down by nearly 10%in late afternoon trading.