Hormuz-disrupted Foskor to continue to weigh on IDC after contributing to R4.7bn loss

The State-owned Industrial Development Corporation (IDC) slumped to a R4.7-billion loss for its 2025/26 financial year from a profit of R329-million on the back of losses reported by associate companies and subsidiaries, notably Foskor. The phosphate rock miner and fertiliser producer’s Richards Bay acid plant was placed into care and maintenance during the year after the supply of sulphur and ammonia, which are key inputs, were heavily disrupted by developments linked to the US/Israel war on Iran.

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