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.

[5] Apatit was owned by Mikhail Khodorkovsky's financial holding company Menatep Group in the late 1990s.

[6] Andrei Guriev who ran a department of Rosprom at that time, became chairman of its subsidiary Apatit in 2001.

[8] The arrest and subsequent 11-month trial of Khodorkovsky revealed that the focus was not on the alleged 'loans-for-shares' scheme, but rather on claims that the privatization of Apatit in 1994 was itself fraudulent.

A 7% stake in PhosAgro is owned by Igor Antoshin, who also serves as the deputy chair of the holding company.