Shares of ICL Group plunged after the company agreed to accept a $2.54 billion payment from the state in exchange for giving up its preferential right to renew its lucrative Dead Sea mining concession. This decision, which is less than half of what ICL originally demanded, is intended to open the door to a more competitive bidding process for the future lease, which expires in 2030. The agreement also includes a refund for ICL's investments in salt removal infrastructure and requires the company to maintain investment and maintenance levels, share information with the government and bidders, and ensure employee benefits are covered for the next concessionaire. The state plans to introduce stricter regulations and a higher share of profits from the mining operation, with legislation to establish the new concession expected soon.