Ammonium Nitrate (AN) — Fertilizer / Mining Explosive

World's largest ammonia distributor via Yara Clean Ammonia; >15% global ammonia market share. Produces and trades ~17-18M MT of ammonia and nitrogen fertilizers annually. Revenue $13.9B in 2024. Plants across Norway (Herøya/Porsgrunn: 500,000 MT/yr), Germany (Brunsbüttel: 800,000 MT/yr), Australia (Pilbara: 850,000 MT/yr, ~5% of world merchant ammonia supply), and 15+ other countries. Also the world's largest multi-nutrient fertilizer producer in Western Europe. Pivoting to green ammonia: started Europe's largest electrolyzer at Herøya (Norway) in 2024 for renewable hydrogen/ammonia. Yara Clean Ammonia is positioning to supply ammonia as marine fuel.

Russia's largest nitrogen and phosphate fertilizer company; major ammonia producer. Plants include Nevinnomyssk (Stavropol), Novomoskovsk (Tula Oblast), and the Antwerp, Belgium nitrogen plant. Also produces potash. Controlled by Andrei Melnichenko (personal EU/UK sanctions 2022; sold his stake to a trust). Swiss holding structure. Significant European presence complicated by Melnichenko sanctions.

Russian nitrogen/ammonia holding company controlling TogliattiAzot (ToAz) — formerly the world's largest single ammonia plant (2M+ MT/year capacity). ToAz exported 2M MT/year via the 2,471km Togliatti-Odessa pipeline to the Black Sea port of Odessa (Pivdenny). Pipeline shut since Russia invaded Ukraine (February 2022). Uralchem reported 'colossal losses' from the shutdown. Before the war, ToAz ammonia represented ~1.3% of global supply from a single facility. Controlled by Dmitry Mazepin (personal EU sanctions). Russia demands pipeline reopening as condition for grain corridor deals.

One of the world's largest ammonia producers; Donaldsonville Complex (Louisiana) is the world's largest single ammonia production complex — 4.335M MT/year capacity, 6 plants on 1,400 acres along the Mississippi River. Produced 9.8M MT gross ammonia in 2024 across all facilities. Also operates plants in Iowa, Louisiana, Courtright (Ontario Canada), Ince (UK), Billingham (UK). Added CO2 capture at Donaldsonville (2025) enabling ~1.9M MT/year 'low-carbon ammonia' for export to Japan/Korea. Joint venture with JERA + Mitsui for $4B 'blue ammonia' plant in Louisiana.

Russia's largest nitrogen fertilizer producer; 25% of Russian nitrogen exports. Produces ammonia, urea, ammonium nitrate, and compound fertilizers. Exports ~5.5 Mt/year; affected by 2022 sanctions but fertilizers were initially exempted by US/EU to avoid food security crisis. Owns potash mines in Russia.

World's largest potash producer with 6 Saskatchewan mines. Vanscoy mine (west of Saskatoon) uses solution mining technology — fresh water drawn from the Saskatchewan River (~20km pipeline) is used in brine management. Deep subsurface saline aquifer brine injection used for waste disposal at Vanscoy (injected into Winnipeg/Deadwood Formations at 1,500-1,700m depth). Conventional underground mines at Rocanville, Allan, Lanigan, Cory, Belle Plaine also produce waste brine requiring aquifer disposal. Nutrien operates Canada's only solution potash mine at Vanscoy. Plans to reach 18M MT/year Saskatchewan capacity.

Poland's largest and Europe's second-largest nitrogen chemical producer. Melamine produced at subsidiary Grupa Azoty Pulawy (96,000 t/yr -- claimed third-largest globally). State-controlled; listed on Warsaw Stock Exchange. Also produces fertilizers (ammonium nitrate, urea, caprolactam), plastics precursors.

Australia's largest industrial explosives and fertilizer company; produces ammonium nitrate at Moranbah (Queensland) and Gibson Island (Brisbane). Primary supplier of ANFO and emulsion explosives to Australian mining sector (BHP, Rio Tinto, Glencore). Also operates Dyno Nobel globally (world's second-largest commercial explosives maker). ASX-listed.