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Cartesian invests in IC Potash subsidiary

By: Creamer Media Reporter Cartesian Capital Group has made a $10-million strategic investment in project developer IC Potash (ICP) subsidiary Intercontinental Potash Corp USA (ICPUSA), which owns the Ochoa sulphate of potash project, in New Mexico. Cartesian had acquired 500 000 class A preferred shares of ICPUSA at a... 

Israel Chemicals looks overseas for growth amid tax plan

By: Reuters Potash producer Israel Chemicals plans to expand abroad in coming quarters, as the investment environment in Israel deteriorates and the company cuts jobs, its CEO said on Wednesday. The second-largest Israeli company on the Tel Aviv Stock Exchange, ICL is reducing costs in the wake of a... 

Premier receives further $1m for Danakil disposal

By: Creamer Media Reporter Aim-listed Premier African Minerals has received a further $1-million from Circum Minerals in relation to the disposal of its interest in the Danakil potash project, in Ethiopia. Premier, in May, acquired Mandalore Development, which held a 30% stake in the Danakil project, from AgriMinco. 

Struggling miners see silver lining in FX, cheaper oil

By: Reuters Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize - weaker local currencies and falling oil prices that will help trim their costs. Metal prices have plunged to multi-year lows as the US dollar strengthened against a basket of... 

Mosaic sees record 2015 global phosphate, potash sales; profit jumps

By: Reuters Mosaic Co on Thursday forecast record-high global phosphate and potash shipments in 2015 despite concerns that weak crop prices would reduce farmers' fertiliser purchases. The Plymouth, Minnesota-based company's quarterly profit jumped 63% as it sold more phosphate at higher prices, but the... 

Cape Alumina doubles MetroCoal debt

By: Esmarie Swanepoel Takeover target Cape Alumina has doubled the unsecured debt financing provided by fellow-listed MetroCoal to progress its Bauxite Hills project, in Queensland. As part of a takeover offer launched in August, MetroCoal provided Cape Alumina with A$250 000 debt financing to progress the Bauxite... 

Agrium stock surges as activist investor amasses sizeable position

By: Henry Lazenby Canadian fertiliser producer Agrium's stock rose 7.46% on the NYSE on Friday after San Francisco-based activist investor ValueAct Capital Management disclosed a 5.7% stake in the Canadian fertiliser giant in a Securities and Exchange Commission filing. Starting in August, ValueAct amassed about... 

Agrium stock surges as activist investor amasses sizeable position

Vale lifts Q3 iron-ore output to historic highs

By: Henry Lazenby Diversified Brazil-based miner Vale on Thursday reported record iron-ore output for the third quarter ended September 30, boosted by quarter-on-quarter gains in all its business segments. Vale said iron-ore output was 85.7-million tonnes in the period, underpinned by the ramp-ups of Plant 2 at... 

Vale lifts Q3 iron-ore output to historic highs

PotashCorp reports lower Q3 income on higher taxes, disappointing offshore investments

By: Henry Lazenby The world’s largest fertiliser company PotashCorp of Saskatchewan on Thursday reported lower third-quarter earnings for the three months ended September 30, as increased taxes and a disappointing performance from its offshore investments weighed on results. The Saskatoon, Saskatchewan-based... 

PotashCorp reports lower Q3 income on higher taxes, disappointing offshore investments

Elemental halves Congo capex in refigured project plan

By: Esmarie Swanepoel Potash developer Elemental Minerals on Thursday announced a new capital estimate of $908-million for the development of its Sintoukola sylvinite (Kola) project, in the Republic of Congo. This compares with an initial capital estimate of $1.85-billion in the 2012 prefeasiblity study (PFS), which... 

MBAC stock surges on loan maturity extensions, liquidity update

By: Henry Lazenby The TSX-listed stock of Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday jumped by as much as 157%, or C$0.11, after the struggling company reported that it had signed final agreements with its senior lenders to extend the maturity of its loans and defer related interest and... 

Second drill hole at Lac Dinga confirms potash mineralisation

By: Natalie Greve Sub-Saharan Africa-focused African Potash has intersected multiple potash seams at the second exploration drill hole at its Lac Dinga potash project, in the Republic of Congo. The latest drill hole, which was completed at one of two delineated target locations, intersected a 112-m-thick salt... 

PFS drilling at South Boulder’s Colluli completed ahead of schedule

By: Leandi Kolver ASX-listed South Boulder Mines on Wednesday announced that prefeasibility study (PFS) level drilling at its Colluli potash project, in Eritrea, had been completed ahead of schedule. This early completion of the PFS section of the drilling programme enabled the finalisation of the mining study and... 

DuSolo permitted to start production from Brazil flagship

By: Henry Lazenby Brazil-focused DuSolo Fertilizers on Tuesday announced that it had received the final mining permit required to start mining and processing high-grade phosphate, discovered at the Santiago target of its Bomfim project, into direct application natural fertiliser (DANF). The company explained that... 

DuSolo permitted to start production from Brazil flagship

Eritrea potash project primed to service budding market, says developer

By: Natalie Greve Sydney-listed South Boulder Mines MD Paul Donaldson says the company’s developing Eritrea-based Colluli potash project is well positioned to supply what he believes will be a likely increase in global demand for potassium chloride and potassium sulphate, which are chiefly used as fertilisers.... 

Eritrea potash project primed to service budding market, says developer

Noble agrees to fund Australian Bauxite’s Tasmania project

By: Esmarie Swanepoel ASX-listed Australian Bauxite has secured up to A$8-million in financing for the development of its Tasmanian project, from commodities group Noble Resources. Under the terms of the agreement, Noble would provide Australian Bauxite with A$6-million in project finance, as well as a A$2-million... 

Australian Bauxite hunts for Bald Hill funding

By: Esmarie Swanepoel ASX-listed junior Australian Bauxite said on Tuesday it was in negotiations with a number of parties to finance its Bald Hill mine, in Tasmania. The negotiations were currently focused on clarifying key terms for a number of agreements on offer, the company stated. 

South Boulder improves plant design efficiency at Eritrea project

By: Natalie Greve Following the successful completion of metallurgical testwork that eliminated certain grinding and thickening infrastructure from the initial process design, Sydney-listed South Boulder Mines has finalised the feasibility study processing plant design for the Colluli potash project in Eritrea.... 

South Boulder improves plant design efficiency at Eritrea project

Potash Ridge secures potential acid offtake and marketing partner

By: Henry Lazenby Canadian potash project developer Potash Ridge on Friday reported that a subsidiary of the company had signed a nonbinding memorandum of understanding (MoU) regarding a potential offtake and marketing arrangement with a third-party marketer for the sulphuric acid output from its Blawn Mountain... 

Sirius signs Tanzania fertiliser MoU

By: Leandi Kolver Potash development company Sirius Minerals and Tanzania State-owned business Tanzania Fertilizer Company (TFC) have signed a memorandum of understanding (MoU) to establish and formalise a joint venture (JV) to blend and distribute polyhalite-based fertiliser products in Tanzania and the... 

Sirius signs Tanzania fertiliser MoU

Once more Karnalyte Resources shuffles CEO

By: Henry Lazenby Saskatchewan-focused potash project developer Karnalyte Resources on Wednesday announced a second change in top management this year, adding that it had launched a search for a permanent president and CEO, which it expected to appoint in the next two months. TSX-listed Karnalyte, which is looking... 

Once more Karnalyte Resources shuffles CEO

Moderate global economic growth outlook forces miners to keep promises

By: Henry Lazenby The most critical challenge miners needed to deal with during the next 12 months was to deliver on their promises of cost savings and regain the confidence of the capital markets, professional services firm KPMG Canada’s mining industry leader Lee Hodgkinson said on Thursday. Speaking to Mining... 

Moderate global economic growth outlook forces miners to keep promises

MBAC’s Itafós operation achieves new daily SSP output record

By: Creamer Media Reporter Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday reported that it had reached a new daily record production of 1 700 t of single super phosphate (SSP) fertiliser at its Itafós operation. This also exceeded the expected daily production amount that the operation had been designed for. 

MBAC restarts SSP production after working capital drought

By: Henry Lazenby Brazil-focused fertiliser producer MBAC Fertilizer this week announced that it had restarted continuous single super phosphate (SSP) production at its Itafós operations, in Brazil, after receiving funds from the Santander working capital facility at the end of August. MBAC last month reported... 

MBAC restarts SSP production after working capital drought

African Potash to issue new shares following exercise of $200 000 convertible security

By: Leandi Kolver Aim-listed African Potash on Friday announced that it had received notice of exercise in respect of $200 000 of convertible security issued last month, pursuant to which 4.89-million ordinary shares now had to be issued. The $200 000 security exercised was part of the $3.75-million in convertible... 

African Potash to issue new shares following exercise of $200 000 convertible security

The quest for improved agricultural productivity spurs investor interest

By: Henry Lazenby Rising demand for protein and more sophisticated diets in developing countries are spurring investors to get excited about investing in fertilisers. The ‘protein story’ was still providing a good thesis for investment, as the developing world continued to consume more meat and dairy products,... 

The quest for improved agricultural productivity spurs investor interest

DuSolo gets operational licence for part of Bomfim project, Brazil

By: Henry Lazenby Brazil-focused DuSolo Fertilizers has received an operating licence for a part of its Bomfim project, in Brazil, allowing it to extract phosphate at the Santiago target. The TSX-V-listed project developer on Thursday noted that Naturatins, or the Environmental Agency of Tocantins state, granted... 

DuSolo gets operational licence for part of Bomfim project, Brazil

MBAC extends debt maturity dates, secures $18.2-million working capital

By: Henry Lazenby Brazil-focused fertiliser producer MBAC Fertilizer made strides in addressing its liquidity position after successfully reprofiling its debt obligations and securing an $18.2-million working capital loan. The TSX-listed company had been struggling with lower-than-expected working capital levels,... 

MBAC extends debt maturity dates, secures $18.2-million working capital

MetroCoal funding to keep Bauxite Hills going

By: Esmarie Swanepoel Bauxite developer Cape Alumina has secured A$250 000 debt financing from major shareholder MetroCoal to progress its Bauxite Hills project, in western Cape York, Queensland. The junior company reported on Wednesday that the loan would enable Cape Alumina to preserve its existing cash resource,... 

MetroCoal funding to keep Bauxite Hills going

FIRB approves Metallica JV

By: Esmarie Swanepoel The Foreign Investment Review Board (FIRB) has approved a joint venture (JV) between ASX-listed Metallica Minerals and China’s Ozore Resources. Under the JV, Ozore would provide about A$7.5-million in funding to develop Metallica’s Urquhart Point heavy mineral sands (HMS) project, in Cape York,... 

FIRB approves Metallica JV

Verde Potash reports ‘clear sight’ on available lines of credit

By: Henry Lazenby Brazilian potash project developer Verde Potash on Wednesday reported that the Brazilian Development Bank (BNDES) had briefed it on its available lines of credit to construct the 330 000 t/y ThermoPotash (TK) plant that would start as soon as all required permits were in hand. Verde in March... 

Verde Potash reports ‘clear sight’ on available lines of credit
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