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Potash News

Premier Danakil acquisition receives TSX approval

By: Leandi Kolver     9th May 2014 Aim-listed Premier African Minerals on Friday announced that its 30% acquisition of the Danakil potash project, in Ethiopia, from Toronto-listed AgriMinco had been approved by the TSX, following the transaction’s approval by AgriMinco’s independent shareholders. In terms of the C$4.9-million... 

Premier enters into loan agreement to acquire 30% of Danakil

By: Leandi Kolver     2nd May 2014 Aim-listed Premier African Minerals has concluded the principle terms of a conditional interest-free, term loan of $2.5-million that would enable it to acquire 30% of the Danakil potash project, in Ethiopia, the company said on Friday.  Premier had previously entered into a C$4.9-million option... 

Premier enters into loan agreement to acquire 30% of Danakil

Industry leaders reflect on evolution of SA's mining industry over last two decades

By: Jade Davenport     25th April 2014 The mining industry has, from a historical perspective, played an inherently complex and contradictory role within South Africa’s sociopolitical economy. While the industry has, for more than a century, been the main driver of phenomenal economic growth and industrialisation, it was also partly... 

Industry leaders reflect on evolution of SA's mining industry over last two decades

PotashCorp narrows Q1 profit, sees weaker-than-expected Q2 earnings

By: Henry Lazenby     24th April 2014 The world’s largest potash producer, Potash Corporation of Saskatchewan (PotashCorp), on Thursday reported a 39% slide in net income for the three months ended March 30, but beat analyst expectations and its own guidance for the period. The Saskatoon, Saskatchewan-based company reported... 

PotashCorp narrows Q1 profit, sees weaker-than-expected Q2 earnings

Low international potash import offer sparks flurry in Indian buying

By: Ajoy K Das     22nd April 2014 Indian potash imports are poised for a significant boost in 2014 as the sector saw a flurry of activity to clinch contracts at sharply reduced prices ranging between $320/t to $325/t, which was substantially lower than the $427/t mark recorded last year. According to officials in India’s... 

Low international potash import offer sparks flurry in Indian buying

Worrying technical corner-cutting needs to be nipped in bud   

By: Martin Creamer     17th April 2014 Worrying technical corner-cutting was sneaking into the mining industry and needed to be nipped in the bud, The Mineral Corporation MD Frank Gregory said on Thursday. Speaking to Mining Weekly Online in the attached video interview, the independent and privately owned firm, which offers... 

Worrying technical corner-cutting needs to be nipped in bud
The Mineral Corporation executives including MD Frank Gregory, David Young, Stewart Nupen and Russell Heins speak of worrying technical corner-cutting that is rearing its head in the mining industry, occupational disease and service awards from South African mines. Camerawork & Editing: Nicholas Boyd.

Muskowekwan First Nation votes to approve on-reserve potash project

By: Henry Lazenby     16th April 2014 Project developer Encanto Potash on Wednesday reported that the Muskowekwan First Nation (MFN) had voted with a strong majority in favour of continuing to develop the first producing potash mine on First Nation land – the MFN’s reserve, located 100 km north-east of Regina, Saskatchewan. The two... 

Muskowekwan First Nation votes to approve on-reserve potash project

IC Potash gets green light for New Mexico SOP project

By: Henry Lazenby     15th April 2014 Potash project developer IC Potash (ICP) has received notice that the US Department of the Interior’s Bureau of Land Management (BLM) had published a record of decision (ROD) approving its plans to build and operate its sulphate of potash (SOP) Ochoa project, located in south-east New Mexico.... 

IC Potash gets green light for New Mexico SOP project

PotashCorp appoints former Inmet boss Tilk as new CEO

By: Henry Lazenby     7th April 2014 The world’s largest potash and crop nutrient producer Potash Corporation of Saskatchewan (PotashCorp) on Monday said that it had appointed former Inmet Mining chief Jochen Tilk as its new president and CEO, effective July 1, to take the reins from outgoing Bill Doyle. After a stint of 27 years... 

PotashCorp appoints former Inmet boss Tilk as new CEO

Mining majors prioritising value over volume as profits, valuations sag

By: Henry Lazenby     4th April 2014 Bruised and battered, the global mining industry today is undergoing a sea change. Practices and policies that might have worked wonders in the past are not as relevant today, and new approaches to running profitable mining operations need to be found. Many mining majors, across all commodity... 

Mining majors prioritising value over volume as profits, valuations sag

Verde Potash completes ThermoPotash PFS

By: Henry Lazenby     1st April 2014 TSX-listed Verde Potash on Tuesday revealed robust metrics for its proprietary ThermoPotash (TK) project, in Brazil, saying a prefeasibility study (PFS) had pinned an estimated after-tax net present value of $145.7-million (at a 10% discount rate) to the project. The 1 000 t/d plant would cost... 

Verde Potash completes ThermoPotash PFS
Photo by Verde Potash
ThermoPotash

Verde potash lifts flagship’s resources

By: Henry Lazenby     20th March 2014 Brazil-focused Verde Potash on Thursday reported results from its latest drilling programme at its Cerrado Verde potash project, saying that the results had shown a significant increase in the size of Verde’s resource. The new Cerrado Verde resource represented more than 295-million tonnes of... 

Verde potash lifts flagship’s resources
Photo by Verde Potash
ThermoPotash

Slowing potash output to compound sluggish Saskatchewan economy growth

By: Henry Lazenby     19th March 2014 Growth in the Canadian province of Saskatchewan’s economy is expected to slow this year as a result of an expected drop in agricultural output and slowing potash production, the latest ‘RBC Economics Provincial Outlook’ had found. In its reported released on Wednesday, RBC forecasted real gross... 

Slowing potash output to compound sluggish Saskatchewan economy growth

Verde Potash’s $105m Brazilian govt funding confirmed

By: Henry Lazenby     19th March 2014 Potash and fertiliser development company Verde Potash on Wednesday announced that about $105-million in government funding for its flagship Cerrado Verde project, located within the country’s largest agriculture market, had been confirmed after an appeals period had ended. Verde last month... 

Verde Potash’s $105m Brazilian govt funding confirmed
Photo by Verde Potash
Cerrado Verde

Elemental Minerals ‘disappointed’ as Dingyi offer fails

By: Henry Lazenby     18th March 2014 ASX- and TSX-listed potash project developer Elemental Minerals on Tuesday expressed its dismay at the fact that an off-market takeover offer by Hong Kong Stock Exchange- (SEHK-) listed company Dingyi Group Investment would fail, after a SEHK listing committee upheld a decision to classify the... 

Elemental Minerals ‘disappointed’ as Dingyi offer fails
Photo by Bloomberg
Potash

Verde Potash’s ThermoPotash product found to improve coffee quality

By: Henry Lazenby     12th March 2014 Brazil-focused Verde Potash this week said that tests had established that its proprietary ThermoPotash product results in better quality coffee than when compared with plants fertilised using potassium chloride (KCl). The company on Tuesday reported that when compared with an identical test... 

Verde Potash’s ThermoPotash product found to improve coffee quality
Photo by Verde Potash
Cerrado Verde

Potash requires moderate approach to pricing – analyst

By: Mariaan Webb     28th February 2014 Potash producers will have to follow a moderate approach to pricing and could risk choking off demand for the key crop ingredient if they set their sights too quickly on regaining a price level of $400/t to $500/t, says London-based analyst Paul Burnside, of CRU. 

Potash requires moderate approach to pricing – analyst
Photo by Bloomberg
An employee uses the light from a head torch to illuminate the machine cut walls of a potash mine operated by Uralkali, in Russia

Wits introducing oil and gas degree to meet new needs

By: Martin Creamer     27th February 2014 The University of the Witwatersrand intends introducing a bachelor of science (BSc) degree in oil and gas engineering in anticipation of growing demand for hydrocarbons expertise, as South Africa prepares to firm up its legislative framework for the exploitation of natural gas. Professor Sunny... 

Wits introducing oil and gas degree to meet new needs
Photo by Duane Daws
Susan Shabangu

MBAC stocks rise on improved long-term guidance

By: Henry Lazenby     24th February 2014 Canadian fertiliser producer MBAC Fertiliser Corp on Monday witnessed a rising share price on the TSX after the company announced that it planned to significantly lift output from its flagship Itafόs Arraias operations, in Brazil, over the next three years, on the back of strong demand and higher... 

MBAC stocks rise on improved long-term guidance
Photo by MBAC Fertilizer
Itafos

Verde Potash to receive about $105m from Inova Agro

By: Henry Lazenby     19th February 2014 In its quest to become fertiliser independent by 2020, the Brazil government has enabled a pathway to production for project developer Verde Potash, entrepreneur Christiano Veloso told Mining Weekly Online on Wednesday. Veloso, who founded the company in 2005 at the age of 23, said the... 

Verde Potash to receive about $105m from Inova Agro
Photo by Verde Potash
Cerrado Verde

Brazilian government to help pay for potash mine

By: Henry Lazenby     18th February 2014 Brazil-focused fertiliser development firm Verde Potash on Tuesday said the Brazilian government would help fund construction of its flagship Cerrado Verde project, located within the country’s largest agriculture market. The company announced that the project was selected to receive financing... 

Brazilian government to help pay for potash mine
Photo by Verde Potash
Cerrado Verde

Danakil project completes maiden mineral resource estimate

By: Leandi Kolver     12th February 2014 A maiden N1 43-101 compliant mineral resource estimate (MRE) has been completed for the Danakil potash project, in Ethiopia, following the completion of the project’s Phase 1 exploration programme, Aim-listed Premier African Minerals announced on Wednesday. The project is 30%-owned by TSX-listed... 

Danakil project completes maiden mineral resource estimate

Mosaic announces $1bn share buy-back despite 79% Q4 profit slump

By: Henry Lazenby     12th February 2014 US fertiliser and phosphates company Mosaic on Tuesday reported a 79% slump in fourth-quarter earnings, as soft demand and weak prices hindered its performance. However, a strong 2014 outlook and a $1-billion top up its $2-billion share buyback programme announced in December buoyed the... 

Mosaic announces $1bn share buy-back despite 79% Q4 profit slump

New private equity with a difference has $750m firepower for mining

By: Martin Creamer     7th February 2014 A new class of private equity, with a deeper understanding of mining’s needs, was launched officially last week with $750-million to deploy in the mining space. London-based Appian Capital Advisory, founded by former JP Morgan mining team member Michael Scherb, spoke to Mining Weekly Online on... 

New private equity with a difference has $750m firepower for mining

Early-stage explorers and prospect generators tapped for performance in 2014

By: Henry Lazenby     20th January 2014 Despite the thorny down-market the junior exploration sector has been dealing with over the past 18 months, several companies had been rewarded for their performances. The problem is, however, that the industry has not delivered a lot of performance, Sprott US Holdings chairperson Rick Rule told... 

Early-stage explorers and prospect generators tapped for performance in 2014

Junior resource investment could result in handsome profits as markets turn

By: Henry Lazenby     20th January 2014 The cyclical resources market holds ample potential to ensure the savvy investor abundant returns, and if the timing of market pullbacks and expansions could be predicted, many more investors would be rich. However, author of the Resource Opportunities newsletter, Lawrence Roulston, on Sunday... 

Junior resource investment could result in handsome profits as markets turn

Verde Potash appoints distinguished new board member 

By: Henry Lazenby     14th January 2014 Brazil-focused potash project developer Verde Potash on Tuesday said it had appointed Alysson Paulinelli, the president of the Brazilian Association of Corn Producers to its board to replace Richard Garnett, who would be retiring for personal reasons, after serving as a director since 2011, and... 

Verde Potash appoints distinguished new board member

Mosaic completes first tranche of $2bn share buy-back

By: Henry Lazenby     9th January 2014 US fertiliser company Mosaic on Wednesday announced that it had acquired the first tranche of 21.65-million restricted Class A shares from the Margaret A Cargill Foundation and the Anne Ray Charitable Trust in a roughly $2-billion purchase over eight months. This share repurchase was part of the... 

Mosaic completes first tranche of $2bn share buy-back

Mosaic completes first tranche of $2bn share buy-back

By: Henry Lazenby     9th January 2014 US fertiliser company Mosaic on Wednesday announced that it had acquired the first tranche of 21.65-million restricted Class A shares from the Margaret A Cargill Foundation and the Anne Ray Charitable Trust in a roughly $2-billion purchase over eight months. This share repurchase was part of the... 

Karnalyte collects water licence and approval to operate works

By: Henry Lazenby     12th December 2013 TSX-listed potash project developer Karnalyte Resources on Thursday achieved another step forward to bring its Wynyard carnallite project, in Saskatchewan, to fruition, after announcing that it had received the water rights licence to use ground water (WRL) and the approval to operate works (ATO)... 

Karnalyte collects water licence and approval to operate works
Photo by Karnalyte Resources
Wynyard

PotashCorp cuts workforce by 18% as low potash prices linger

By: Henry Lazenby     3rd December 2013 Canada’s Potash Corp of Saskatchewan (PotashCorp), the world’s largest fertiliser company, would cut 18% from its workforce in Canada, the US and Trinidad, as it grappled with subdued demand, particularly from critical developing markets, where growth had been less robust than expected, and low... 

PotashCorp cuts workforce by 18% as low potash prices linger

Orocobre lowers, completes A$30m placement

By: Henry Lazenby     28th November 2013 ASX- and TSX-listed Orocobre on Thursday said it had decided to not allocate shares to Canadian applicants under its A$37-million placement on the ASX, which had reduced the placement to A$30-million. Orocobre explained its action was owing to a potential four-month trading restriction... 

Orocobre lowers, completes A$30m placement

SA seeks closer Canadian ties as overhaul of mining sector continues

By: Simon Rees     27th November 2013 The South African government is keen to foster closer ties with Canada’s mining industry and to attract Canadian expertise, two top government officials told audience members at the Canada-Southern Africa Chamber of Business on November 26. The country is also committed to continue improving its... 

SA seeks closer Canadian ties as overhaul of mining sector continues

Verde Potash gets ThermoPotash certified globally

By: Henry Lazenby     25th November 2013 Brazil-focused potash project developer Verde Potash on Monday announced that IBD Certifications, the largest certifier in Latin America and the only Brazilian certifier of organic products with global credentials had approved its ThermoPotash product for use on organic crops. Traditional potash,... 

Verde Potash gets ThermoPotash certified globally

Mosaic posts sharply lower Q3 earnings

By: Henry Lazenby     5th November 2013 Plymouth, Minnesota-based crop nutrients producer Mosaic Company on Tuesday reported a 70% drop in third-quarter profit as the prevailing cautious market defers buying in expectation of lower prices, following the unexpected July unravelling of the world's largest potash cartel, the Belarus... 

Stonegate Agricom announces $60m equipment loan

By: Henry Lazenby     28th October 2013 TSX-listed Stonegate Agricom, which is developing the Paris Hills phosphate project in Bear Lake County, Idaho, on Monday announced that it had given financing major Macquarie an exclusive mandate to act as lead arranger for arranging, underwriting and syndicating an equipment leasing facility... 

Potash volumes to increase in 2014, market waiting for price drop

By: Henry Lazenby     28th October 2013 Global potash sales had weakened in the past several months as consumers delayed purchases in expectation of lower future prices, US-based potash project developer Prospect Global Resources said on Monday. The Nasdaq-listed company, which at the start of the month received an air quality control... 

Mosaic buys CF Industries’ phosphate business for $1.2bn

By: Henry Lazenby     28th October 2013 US fertiliser producer Mosaic on Monday announced that it had signed a definitive accord to buy CF Industries’ phophate business for $1.2-billion in cash. The company would also pay $200-million to fund CF Industries' asset retirement obligation escrow. 

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