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Potash News

Highfield’s Sierra del Perdon demonstrates robustness of project pipeline

By: Esmarie Swanepoel     20th April 2015 A scoping study into Spanish potash developer Highfield Resources’ Sierra del Perdon project has estimated that the project could deliver 520 000 t/y of granular potash. The scoping study estimated that the project would require a capital investment of $233-million, and projected operating... 

African Potash raises £1.2m to fund projects

By: Megan van Wyngaardt     17th April 2015 Exploration company African Potash has secured £1.2-million in funding through the placing of new ordinary shares with Cornhill Capital. Placing proceeds would enable the company to redeem the outstanding convertible securities held by financier Bergen Opportunity Fund and to fund ongoing working... 

South Boulder achieves high-purity grades at Colluli

By: Megan van Wyngaardt     14th April 2015 Following a pilot test, which formed part of a definitive feasibility study (DFS), Canadian potash producer South Boulder Mines found that its Colluli project achieved ultrahigh potassium sulphate purity grades of 98%, with typical industry product being only 94%. The company added that the... 

India’s potash imports forecast to rise

By: Ajoy K Das     14th April 2015 Indian potash imports will likely increase to a four-year high of about five-million tonnes in the 2015 financial year, which started on April 1. This will be the highest level of imports since 2011, when India went into a self-imposed “potash import holiday”. 

MBAC Fertiliser stock ends week on high after midweek financing update

By: Henry Lazenby     10th April 2015 The stock of beleaguered plant nutrients producer MBAC Fertilisers on Friday ended the week up 128.57% on the TSX, following a midweek corporate update. MBAC, which placed its Brazilian flagship Itafós mine on care-and-maintenance in December owing to a soft seasonal single super phosphate (SSP)... 

Reward studies 400 000 t/y potash project in WA

By: Esmarie Swanepoel     2nd April 2015 A scoping study into the LD potash project, in Western Australia, has revealed that the project could produce 400 000 t/y. Owner Reward Minerals on Thursday announced that the project would require a capital investment of about A$320-million, and would likely have an operating cost of A$204/t. 

Highfield DFS delivers ‘low capex, high margin’ result for Muga mine

By: Esmarie Swanepoel     30th March 2015 A definitive feasibility study (DFS) has confirmed that the Muga potash project, in Spain, was economically feasible, owner Highfield Resources reported on Monday. Based on an ore reserve of 146-million tonnes, at an average grade of 12.73% potassium oxide, the DFS estimated that the project... 

Encanto Potash gets third-party interest to build 100 MW power plant

By: Henry Lazenby     28th March 2015 Project developer Encanto Potash has received an expression of interest through its strategic advisor Horgen Holdings from private equity fund manager Fengate Capital Management for the development, construction and financing of a 100 MW power station for the proposed Muskowekwan potash mine and... 

Israel Chemicals to acquire Allana Potash in C$137m deal

By: Megan van Wyngaardt     27th March 2015 Dual-listed agriculture, processed food and engineered materials manufacturer Israel Chemicals (ICL) will acquire all shares it does not already own in TSX-listed Allana Potash, which owns a potash mine in Ethiopia, for C$137-million. ICL already held a 16.36% stake in the potash company and... 

Saskatchewan tax-rule changes could cost PotashCorp up to C$100m this year

By: Henry Lazenby     19th March 2015 The world's largest potash producer Potash Corporation of Saskatchewan (PotashCorp) says changes to potash taxation are expected to shave between C$75-million and C$100-million off the company’s 2015 pre-tax earnings. In his 2015/16 budget speech, on Wednesday, Saskatchewan Finance Minister Ken... 

Arianne Phosphate exceeds previous product grade, purity during customer trials

By: Henry Lazenby     17th March 2015 Project developer Arianne Phosphate has completed a successful series of customer trials that have produced a phosphate concentrate with a superior grade and lower contaminants than previously ever achieved by the company. Arianne, which is focused on advancing the Lac à Paul project, in Quebec's... 

Centrex buys Sheffield potash project

By: Esmarie Swanepoel     9th March 2015 ASX-listed Centrex Metals has entered into a purchase agreement with fellow-listed Sheffield Resources to acquire the Oxley potash project, in Western Australia, in a transaction valued at A$2.5-million. Centrex reported on Monday that it would pay an upfront A$1-million, which would be... 

South Boulder publishes PFS for Eritrea potash project  

By: Esmarie Swanepoel     4th March 2015 The prefeasibility study (PFS) into the Colluli potash project, in Eritrea, has estimated that the project would require an initial investment of some $442-million. The PFS examined a two-module development with an expected production of 425 000 t/y sulphate potash for the first five years of... 

Potash West gains 25% stake in technology firm, mulls separate listing

By: Esmarie Swanepoel     27th February 2015 The share price of ASX-listed Potash West fell slightly on Friday as the company raised the possibility of listing a venture that will pursue potash technologies. Potash West has obtained a 25% interest in a lithium technology licensing company, which holds the licence for a unique lithium... 

South Boulder Mines nears completion of second tranche on Eritrean project

By: Megan van Wyngaardt     24th February 2015 Eritrea-focused potash exploration company South Boulder Mines expected its final tranche of baseline submissions for its one-billion-ton Colluli potash project to be completed and submitted in the second quarter, while expecting the results fromm its prefeasibility study (PFS) to be released by... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby     24th February 2015 Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Elemental targets 2019 start at Dougou

By: Esmarie Swanepoel     17th February 2015 Potash developer Elemental Minerals is aiming to start production from its Dougou project,in the Republic of Congo, in 2019. The ASX-listed company on Tuesday released the results of a scoping study into the project, which indicated that a capital investment of $430-million would be require to... 

Mosaic nearly triples Q4 earnings on the back of robust fertiliser demand

By: Henry Lazenby     11th February 2015 The NYSE-listed stock of The Mosaic Company rose on Wednesday after the US-based concentrated phosphate and potash crop nutrients producer reported that fourth-quarter earnings had almost tripled year-over-year on the back of strong fertiliser demand. The Plymouth, Minnesota-based company noted... 

Optimisation study finds cost savings for Arianne’s Lac-à-Paul

By: Henry Lazenby     5th February 2015 An optimisation study has identified a cost reduction of almost 5% with regard to the planned phosphate concentrate production at Quebec-focused project developer Arianne Phosphate's Lac-à-Paul project, in Quebec. Arianne's October 2013 feasibility study expected the free-on-board Port of... 

PotashCorp lifts dividend on outlook optimism, Q4 profit rises 75%

By: Henry Lazenby     29th January 2015 The world’s most significant fertiliser producer PotashCorp of Saskatchewan has lifted its quarterly cash dividend by about 9% on the back of a confident sector outlook as its potash expansion programme was nearing completion. The Saskatoon, Saskatchewan-based miner on Wednesday declared a cash... 

PotashCorp lifts dividend on outlook optimism, Q4 profit rises 75%

Stonegate Agricom halts work on Idaho project permitting as coffers empty

By: Henry Lazenby     27th January 2015 Phosphate project developer Stonegate Agricom has temporarily halted permitting activities at its Paris Hills project, in Idaho, citing financial constraints. The TSX-listed firm noted on Monday that third-party consultants appointed to finalise the groundwater model for permitting applications,... 

Danakil DFS to potentially uplift value of Premier’s interest in Circum

23rd January 2015 Circum Minerals expects to complete the definitive feasibility study (DFS) for its Danakil potash project, in the northern margin of the Danakil depression, in Ethiopia, by mid-year and foresees the production of 2.75-million tonnes a year of saleable potash salts over a minimum of 30 years.... 

Investors to blame for supporting dithering juniors

By: Henry Lazenby     20th January 2015 In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

Potash West improves Dinner Hill economics

By: Esmarie Swanepoel     13th January 2015 A scoping study by ASX-listed Potash West into its proposed Dinner Hill phosphate project, in Western Australia, has again improved the project economics. A previous economic model of the Dinner Hill project had estimated the project’s net present value (NPV) to be around A$331-million, with the... 

Premier receives final $1m for Danakil

By: Megan van Wyngaardt     12th January 2015 Aim-listed Premier African Minerals has received the final $1-million tranche from potash developer Circum Minerals as payment for a 30% interest in the Danakil potash project, in Ethiopia. In May last year, Premier acquired Mandalore Development, which held a 30% stake in the project, from... 

Karnalyte Resources in talks for $700m financing, announces special shareholder meeting

By: Henry Lazenby     2nd January 2015 Potash project developer Karnalyte Resources inked an engagement letter with an Indian financial institution in October last year to help arrange $700-million to develop the Wynyard carnallite-sylvite project, in Saskatchewan. The company said on Friday that the investment capital was expected to... 

Management-shuffling Karnalyte receives meeting request from activist shareholders

By: Henry Lazenby     19th December 2014 Saskatchewan-focused potash project developer Karnalyte Resources on Thursday said it had received a shareholder-meeting requisition from company founder, former president, CEO and director Robin Phinney. TSX-listed Karnalyte said the board was asked to call a special shareholder meeting to... 

South Boulder sets up pilot plant for Colluli

By: Esmarie Swanepoel     11th December 2014 Potash developer South Boulder Mines has started pilot testing of the process design of its Colluli project, in Eritrea, at the Saskatchewan Research Council, in Canada. South Boulder MD Paul Donaldson said on Thursday that the pilot plant would use potassium-bearing salts from the Colluli... 

Drill results point to multiple potash seams at Lac Dinga

By: Natalie Greve     9th December 2014 Recent assay results from Aim-listed African Potash’s Lac Dinga potash project, in the Republic of Congo, have confirmed the presence of multiple potash seams which the company believes are characteristic of the Congolese coastal basin and further underpin the project’s potential to host... 

Colluli PFS will determine project balance – South Boulder CEO

By: Leandi Kolver     3rd December 2014 The prefeasibility study (PFS) of ASX-listed South Boulder Mines’ (SBM’s) Colluli project, in Eritrea, was an exercise of scale through which the company would determine the correct balance between risk mitigation, fundability and the economic return of the project, South Boulder CEO and MD Paul... 

Vale approves 2015 capex budget of $10.2bn

By: Henry Lazenby     2nd December 2014 The board of Brazil-based diversified miner Vale has approved an investment budget for new and sustaining projects of $10.2-billion for 2015, representing the fourth consecutive year in which Vale has reduced its capital expenditure (capex), as it deals with low iron-ore prices. Iron-ore prices... 

Cartesian invests in IC Potash subsidiary

By: Creamer Media Reporter      26th November 2014 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... 

Premier receives further $1m for Danakil disposal

By: Creamer Media Reporter      12th November 2014 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. 

Cape Alumina doubles MetroCoal debt

By: Esmarie Swanepoel     27th October 2014 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     25th October 2014 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     23rd October 2014 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     23rd October 2014 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     23rd October 2014 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... 

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