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Potash News

Highfield secures finance for Muga development

By: Esmarie Swanepoel ASX-listed potash developer Highfield Resources has secured project finance facilities of up to €222-million to fund the development of its Muga potash mine, in Spain. The company on Thursday said it had agreed to a mandate with four major European commercial banks, under which the mandated lead... 

DuSolo launches strategic review following weaker-than-expected fertiliser sales

By: Henry Lazenby Brazil-focused DuSolo Fertilizers will implement several sales and production strategies in an attempt to increase revenues from its Bomfim mine after demand for its product failed to meet the company's expectations. "In light of the current market conditions in Brazil and the effect it has had... 

EY’s Mining Eye index climbs for first time in a year

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye index has gained 4% during the three months ended June, recording a gain for the first time since the second quarter of 2014, compared with a 1% decline in the first quarter. The index outperformed the S&P/TSX Composite index, which slipped 2%... 

EY’s Mining Eye index climbs for first time in a year

African Potash signs first offtake deal under Comesa trading agreement

By: Megan van Wyngaardt Aim-listed African Potash has entered into a memorandum of understanding (MoU) that will see it supply a Zambia-based fertiliser supply company with more than 50 000 t of fertiliser. This was the first offtake deal under the trading agreement concluded between African Potash, the Mask Africa... 

Potash West, partner sell German project

By: Esmarie Swanepoel ASX-listed Potash West has reached an agreement with a subsidiary of fellow-listed Arunta Resources to divest of East Exploration, which holds the South Harz potash project, in Germany. East Exploration is 50% held by Potash West, with the balance held by a private owner. 

Elemental launches studies at Sintoukola

By: Esmarie Swanepoel Potash hopeful Elemental Minerals has launched a bankable feasibility study (BFS) at its Kola sylvinite project and a prefeasibility study (PFS)  at its Dougou carnalite project. The two projects formed part of the larger Sintoukola permit in the Republic of Congo. 

Potash Ridge to buy Valleyfield Fertilizer to fast-track SOP production

By: Henry Lazenby Project developer Potash Ridge has agreed to buy all of the issued and outstanding common shares of Valleyfield Fertilizer, to advance its goal of becoming a sulphate of potash (SOP) producer. Over the last two years, Valleyfield, a privately owned corporation registered in Quebec, had advanced... 

Essel targets potash licence in Eritrea

By: Creamer Media Reporter Essel Group India subsidiary Essel Group Middle East (EGME) has continued its expansion into the African mining sector through the acquisition of Canadian company NGEx Resources’ Bada potash exploration licence, in Eritrea. The company aimed to start the first phase of drilling at the... 

Circum DFS shows good prospects for Danakil potash project

By: Megan van Wyngaardt Potash project developer Circum Minerals has completed a definitive feasibility study on its Danakil project in Ethiopia, which confirmed that the mine had a measured and indicated resource of 2.8-billion tonnes of potash salts at depths of less than 100 m to 500 m. The inferred resource hosted... 

Despite gold remaining under pressure, niche opportunities surface – Resource Maven

By: Simon Rees Gold bugs have had good reason to be gloomy of late as speculation was rife that the yellow metal’s price would in future descend to $1 000/oz,  after recently having declined to a five-year low of $1 080.20/oz on the London PM fix. Following this drop on July 24, the gold price clawed back some... 

Cameco’s Seitz chosen as Canpotex next president, CEO

By: Henry Lazenby The world’s dominant potash exporting and marketing firm Canpotex, which sells the products of Canada’s biggest potash miners PotashCorp, Mosaic and Agrium to offshore markets, has appointed Canadian uranium producer Cameco’s senior VP and chief commercial officer Ken Seitz its new president and... 

African Potash signs three-year deal with Comesa

By: Megan van Wyngaardt To create a vertical platform for the mining, production and distribution of fertiliser in the Common Market for Eastern and Southern Africa (Comesa) region, Aim-listed African Potash and Mask Africa Crowd Farm Fund (MACFF) have entered into a three-year trading agreement with Comesa. Under the... 

PotashCorp remains intent on buying German rival, pares outlook

By: Henry Lazenby Canada’s Potash Corporation of Saskatchewan (PotashCorp) has reiterated its intentions to buy German rival K+S, saying it is prepared to make binding commitments to motivate its target’s management, which has so far rebuffed the unsolicited offer.  PotashCorp president and CEO Jochen Tilk told... 

PotashCorp remains intent on buying German rival, pares outlook

Elemental raises cash for Congo potash studies

By: Esmarie Swanepoel Potash hopeful Elemental Minerals has completed a A$4.98-million private placement to fund feasibility studies for its projects in the Republic of Congo. Elemental said on Friday that existing shareholders took part in the placement, which had been priced at 20c a share. 

Western Potash Milestone pilot study reveals reduced risk profile

By: Tracy Hancock A scoping study on TSX-listed Western Potash’s 100%-owned Milestone property, in southern Saskatchewan, has projected a significantly reduced risk profile and allowed for the staged development of the project. TSX-listed Western Potash president and CEO Pat Varas pointed out in a statement on... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

PotashCorp confirms potential play for Germany’s K+S

By: Creamer Media Reporter Potash Corporation of Saskatchewan (PotashCorp) has made a private proposal to Germany-based K+S to negotiate the acquisition of the company – Europe's largest supplier of potash for fertiliser use. TSX- and NYSE-listed PotashCorp advised in a statement that there was no certainty that an offer... 

Centrex to impair iron-ore assets as it shifts focus to potash

By: Creamer Media Reporter Metals developer Centrex Metals will write down the noncash carrying value of its South Australian iron-ore portfolio and shift its focus to the development of the Oxley potash project, in Western Australia. The ASX-listed company on Wednesday said the recent volatility in spot and long-term... 

ICL completes Allana Potash acquisition, gains strong position in Ethiopia

By: Henry Lazenby Israel-based agriculture, processed food and engineered materials markets orientated firm ICL has completed its C$137-million acquisition of Canadian explorer Allana Potash. The closing on Monday followed approval by Allana's security holders and Ontario's Supreme Court of Justice of ICL's offer... 

India looking to clinch mining deals with Kazakhstan

By: Ajoy K Das India and Kazakhstan are laying the groundwork for a string of greenfield mining and mineral projects through government-to-government deals during Prime Minister Narendra Modi’s forthcoming visit to the central Asian nation. On the Indian side, an interMinisterial working group comprising... 

India looking to clinch mining deals with Kazakhstan
India Prime Minister Narendra Modi

MBAC’s Itafos in legal hot water that could scupper strategic review

By: Henry Lazenby Brazil-focused project developer MBAC Fertilizer on Monday reported that subsidiary Itafós Mineracão was facing two lawsuits that could derail progress made with the company’s strategic review process. The TSX-listed company said that it was defending itself against claims laid by the Brazilian... 

Arianne Phosphate and Quebec First Nations ink cooperation covenant

By: Henry Lazenby Development-stage phosphate mining company Arianne Phosphate has achieved a significant milestone in developing its Lac à Paul project, in Quebec's Saguenay-Lac-Saint-Jean region, after signing a cooperation agreement with local First Nations. The Innu clans of Pessamit, Essipit and Mashteuiatsh... 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital 

By: Martin Creamer Government geoscientists are desperately underfunded, which is depriving South Africa of the geological potential that is essential for minerals exploration. There is an absence of investment in large, regional geological exercises and masters students are not being trained in the... 

South Africa’s geoscience ‘desperately’ underfunded – Nedbank Capital
Photo by Duane Daws
Paul Miller

Mergers and acquisitions drop 46% q/q – KPMG

By: Henry Lazenby During the three months ended March 31, the global mining industry has recorded the lowest number of mergers and acquisitions (M&A) transactions in years, recording only 14 transactions worldwide. This represented a drop of 46% quarter-over-quarter, professional services firm PwC said in its... 

Potash West doubles Dinner Hill resource

By: Esmarie Swanepoel ASX-listed Potash West has doubled the indicated resource estimate at its Dinner Hill phosphate and potash project, in Western Australia, while grades increased by 4%. Drilling carried out in 2014 and 2015 has now pushed the Dinner Hill indicated resource to 250-million tonnes, grading 2.9%... 

Engineers appointed to newly acquired Oxley potash project – Centrex

By: Creamer Media Reporter ASX-listed Centrex Minerals has appointed two engineering houses to the first phase of work on its newly acquired Oxley potash project, near Geraldton, in Western Australia. Amec Foster Wheeler has been appointed to undertake a technical literature review of processing route options to extract... 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

African Potash extends capital raise

By: Megan van Wyngaardt Aim-listed African Potash has extended the placing of new ordinary shares to raise funds to redeem outstanding convertible securities and for the group's ongoing working capital requirements. The exploration company would, by Friday, issue a further 25-million new shares at 0.3p apiece, raising... 

India’s higher potash import price threatens volumes

By: Ajoy K Das Having failed in a bid to avoid a price hike in the first two potash import deals for the financial year, fertiliser producers in India expected inward shipments of fertiliser minerals to drop during 2015/16. Indian potash importers have concluded their first two deals of the year, of... 

Maiden reserve declared at Colluli

By: Esmarie Swanepoel Potash developer South Boulder Mines has reported a maiden Joint Ore Reserves Committee-complaint reserve of 1.1-billion tonnes, grading 10% potassium oxide, for 205-million tonnes sulphate of potash at its Colluli project, in Eritrea. Some 287-million tonnes of the reserve was classified as... 

Fertoz says Canada phosphate project economically viable

By: Esmarie Swanepoel Scoping study into ASX-listed Fertoz’ Wapiti phosphate project, in British Columbia, has proven the project to be economically viable, the ASX-listed company reported on Thursday. The study estimated that a capital spend of C$2.7-million would be required to develop Stage 1 of the project, which... 

O'Rourke to succeed Prokopanko as Mosaic president, CEO

By: Henry Lazenby US potash and fertiliser producer The Mosaic Company announced on Wednesday that the board has chosen executive VP for operations and COO James ‘Joc’ O'Rourke to succeed James Prokopanko as president and CEO, effective from August 5. Prokopanko would continue to serve as senior advisor until his... 

Highfield announces A$101m raising to build Spain potash mine

By: Esmarie Swanepoel Potash hopeful Highfield Resources resumed share trading on the ASX on Monday, after announcing to the market that it would raise about A$101-million through a share placement. Highfield announced to shareholders that it would place some 56.12-million shares, at a price of A$1.80 each, to... 

Potash West agrees to sell South Harz stake

By: Esmarie Swanepoel ASX-listed junior Potash West has inked a binding term sheet with fellow-listed Petratherm to divest of its 55% shareholding in the South Harz project, in central Germany. Potash West announced on Monday that its East Exploration subsidiary would receive 55-million fully paid ordinary shares in... 

Productivity  improved through mine design enhancement

Many existing mines face the dilemma of how to reduce their operating costs while improving productivity in ever more challenging geological and operating conditions, meaning precise mine design becomes the key to project success, says independent technology services company DMT. 

Productivity  improved through mine design enhancement
DEMANDING CONDITIONS South Africa has mining operations with depths exceeding 3 500 m, which has resulted in the development of some of the most modern equipment available worldwide

Oxley sale goes unconditional - Sheffield

By: Esmarie Swanepoel ASX-listed Sheffield Resources on Thursday announced that the sale of its Oxley potash project, in Western Australia, to fellow-listed Centrex Metals has been declared unconditional. In March, Centrex announced that it would acquire the project for A$2.5-million. 

Highfield halts shares as it hopes for cash

By: Esmarie Swanepoel ASX-listed potash hopeful Highfield Resources went into a trading halt on Thursday, with the company saying it was on the brink of a "significant" capital raising. A definitive feasibility study into Highfield’s Muga project, in Spain, recently estimated that a capital investment of $256-million... 

Phosphate Australia spurns improved offer

By: Esmarie Swanepoel The directors of ASX-listed Phosphate Australia have rejected an increased offer from suitor Mercantile Investment, saying the revised offer still undervalued the company. Mercantile on Wednesday upped its offer price for Phosphate Australia shares from 2c each, to 2.2c each. 

Phosphate Australia spurns improved offer
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