Breaking Update
New Deal Signed with ICL on Dead Sea Minerals Concession
Israel and ICL finalize a detailed agreement on Dead Sea minerals concession assets, valued at $2.54 billion. ICL waives rights, ensuring a competitive 2030.
Jerusalem, 1 February, 2026 (TPS-IL) — The Treasury Ministry announced that what it called a “detailed agreement” between the State of Israel and ICL (formerly Israel Chemicals) Group Ltd on the value of the Dead Sea minerals concession assets was signed. as part of the agreement, ICL waived its right of first refusal and commits to cooperation in preparation for a future tender for the Dead Sea concession in 2030.
The signed agreement will allow the state to conduct a competitive, international and equitable tender process by creating certainty for the expected process, both for the state and for potential bidders in the tender, explained the Ministry.
To this end, and in addition to the asset arrangement, the agreement also includes ICL’s cooperation in conducting the tender, by transferring the required knowledge and information, transferring material agreements and work procedures, a commitment to continue making investments and maintenance in order to preserve the existing value of the assets and plants, transferring all financial obligations towards the employees, and non-objection on the part of ICL to the cancellation of the right of way. All of the agreed upon issues are detailed in the agreement signed between the parties, which is attached to this announcement.
As part of the agreement, ICL will transfer to the state all assets required for the ongoing and full operation of the Dead Sea Concession, for $2.54 billion (plus the future costs of the actual salt harvesting project). The transfer of the assets to the state and the payment to ICL will be made at the end of the concession in 2030, in accordance with the procedure established between the parties.
