"Apatit" was established in 1929. The company is based in Kirovsk, Murmansk Oblast. Its main plants are located in Kirovsk and in Apatity, a town located at a distance of about 23km from Kirovsk, near the eastern shore of Lake Imandra. Both towns are situated at the foot of the Khibiny Mountains.
In the early 1990s, the rapid decline in demand for apatite concentrate led to a significant reduction in production volumes resulting in a struggle of survival for the company. In 1994, only 6 million tonnes of apatite concentrate were produced, compared to 20 million tons in 1988. This deep crisis led to privatization of the company, starting in 1994.
Apatit was owned by Mikhail Khodorkovsky’s financial holding company Menatep Group in the late 1990s. Andrei Guriev who ran a department of Rosprom at that time, became chairman of its subsidiary Apatit in 2001. Following the arrest of Khodorkovsky in 2003, Guriev led a management buyout of Apatit and acquired control.
At present, JSC "Apatit" is a large Mining and Chemical Complex consisting of four mines, three concentrating mills and various support units. Core production activity is the production of apatite concentrate from apatite- nepheline ore. In the early 2000s, the company employed up to 13,000 people. In 2013, PhosAgro completed the consolidation of 100% of Apatit.
Today JSC "Apatit" is not only the largest enterprise and main employer in both Kirovsk and Apatity, but also the largest mining and concentrating enterprise in Europe and Russia. Since 2014, Vladimir Davydenko (born 1976) has been CEO of the company.