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Potash News

CRU’s Burnside warns of potash overcapacity and oversupply

By: Simon Rees     8th March 2013 Canada’s potash sector is a leviathan in the nation’s mining industry; it accounted for almost 30% of global supply during 2011, with the value of production that year reaching $7.97-billion, according to the Mining Association of Canada. The province of Saskatchewan produces almost all of this... 

Karnalyte closes private placement, offtake with Indian company

By: Henry Lazenby     8th March 2013 Saskatchewan-focused potash project developer Karnalyte Resources has closed a $44.7-million private placement with Indian firm Gujarat State Fertilizers & Chemicals (GSFC), which was first announced in January, giving it access to one of the world’s largest potash markets. Karnalyte had issued... 

Mining to be Ethiopian economic backbone as Allana outlines progress 

By: Simon Rees     7th March 2013 Sub-Saharan Africa was at the fore of the Prospectors and Developers Association of Canada’s 2013 show, with projects from West, Central and Southern Africa firing the imagination of many delegates and even grabbing several headlines. One region worthy of close attention is Ethiopia. The wars... 

Karnalyte gets environmental nod for Saskatchewan project

By: Henry Lazenby     11th February 2013 Saskatchewan-focused project developer Karnalyte Resources on Monday achieved a critical milestone with the Saskatchewan Ministry of Environment (MoE) approving the environmental-impact statement (EIS) for the company’s flagship Wynyard carnallite project. This is expected to pave the way to... 

Potash cartel announces Indian supply contract

By: Henry Lazenby     9th February 2013 Canpotex, the market cartel of Canada’s biggest potash miners – Potash Corp, Mosaic and Agrium – announced a new deal with the Indian government and private sector customers to supply about 1.1-million tons of potash for shipment up to January 2014. Under the agreement, the companies would ship... 

MBAC Fertilizer closes $34.5m financing

By: Henry Lazenby     7th February 2013 Toronto-listed MBAC Fertilizer has closed a $34.5-million equity financing, including the full amount of the overallotment option. The company had issued 10.14-million common shares, including those issued in the exercise of the overallotment option, sold at a price of $3.40 a share.  

Coal being 'strategic' mineral will not discourage export-price-reliant miners

By: Martin Creamer     30th January 2013 The declaration of coal as a strategic resource will continue to allow private participation and exports, says Mineral Resources Minister Susan Shabangu. Coal’s strategic role will be formulated within the Minerals and Petroleum Resources Development Act (MPRDA) and its implementation will also... 

Premier African Minerals signs MoU for sale of Mali subsidiary

By: Natalie Greve     30th January 2013 Aim-quoted multicommodity resource company Premier African Minerals entered into a nonbinding memorandum of understanding (MoU) with Ethiopia-focused potash company Ethiopian Potash Corp (EPC) for the sale of its Mali subsidiary, G and B African Resources Mali, the company said on Wednesday. The... 

African Potash to acquire stake in Congo exploration project

By: Creamer Media Reporter      29th January 2013 Aim-listed investment company African Potash, re-entered an agreement to acquire an indirect 70% interest in La Societe des Potasses et des Mines (SPM), which holds the exploration rights for potash salts over the Lake Dinga project in the Republic of Congo. The investment company would acquire... 

World interest in Canada's minerals and metals at record high – report

By: Henry Lazenby     21st January 2013 World interest in Canadian minerals and metals reached a record high in 2011 as measured by exploration spending, the Mining Association of Canada's (MAC’s) new 'Facts & Figures 2012' report has found. Exploration investment in Canada reached C$3.9-billion in 2011, with spending for 2012... 

IC Potash expands New Mexico land package

By: Henry Lazenby     17th January 2013 New Mexico-focused IC Potash (ICP), which is developing the Ochoa polyhalite potash project, on Wednesday said it had secured another 774.5 ha of land in Lea county, from the New Mexico state land office, increasing its total state lease and federal permit holdings in the region to about 41 075.5... 

Mosaic earnings down on lower prices, market improvement expected

By: Henry Lazenby     10th January 2013 The world’s largest phosphate fertiliser producer Mosaic has reported a 16% decline in net sales during its second fiscal quarter 2013, driven by lower phosphate and potash volumes and lower phosphate prices. The Plymouth, Minnesota-based company reported second quarter 2013 net earnings of... 

Karnalyte Resources inks Indian investment and offtake agreement

By: Henry Lazenby     10th January 2013 Canadian potash project developer Karnalyte Resources has inked a $45-million investment and a 20-year offtake agreement with an Indian fertilizer firm, placing it closer to direct competition with some of the world’s largest potash firms. India-based Gujarat State Fertilizers & Chemicals (GSFC)... 

Higher ferrochrome price fix lifts Merafe share price

By: Martin Creamer     19th December 2012 The share price of the South African black-owned ferrochrome producer Merafe Resources rose here on the announcement of a 2% higher ferrochrome price settlement. The European benchmark ferrochrome price of $1.125/lb for the first quarter of 2013 is up on the $1.10/lb price for the fourth quarter... 

Atlantic Canada’s economy set to improve in 2013 – RBC Economics

By: Henry Lazenby     13th December 2012 Unexpected production disruptions and delays across Atlantic Canada slowed economic growth this year, but the region is well positioned to see this improve next year, the latest RBC Economics 'Provincial Outlook', issued today, has found. RBC notes that maintenance shutdowns at offshore oil... 

Lithium Americas gets thumbs up for Argentina lithium/potash project

By: Henry Lazenby     12th December 2012 Project developer Lithium Americas on Wednesday said it has received the final government decree to begin construction of its Cauchari-Olaroz lithium/potash project, in the Puna Plateau, Argentina, where over 80% of the world’s lithium brine reserves are reportedly located. The company said the... 

Stonegate feasibility study places $477.5m NPV on Idaho project

By: Henry Lazenby     10th December 2012 TSX-listed Stonegate Agricom on Monday reported results of a feasibility study for developing an underground mine in the Lower Phosphate zone of its fully owned Paris Hills phosphate project, in Idaho, placing a $477.5-million net present value on the project. The feasibility study built on the... 

Verde Potash completes process testwork

By: Henry Lazenby     4th December 2012 TSX-listed Verde Potash has completed a four-week processing trial at rotary kiln provider FLSmidth, during which 42 t of ore was processed to fine-tune the potassium chloride (KCl) production process that would be used at the company’s Cerrado Verde project, in Brazil. The testing allowed for... 

Karnalyte opens contractor’s office at Saskatchewan project

By: Henry Lazenby     31st October 2012 Potash junior Karnalyte Resources on Wednesday officially opened the contractors’ office at its Karnalyte property, near Wynyard, Saskatchewan, in anticipation of the start of construction activity. CFO Ron Love told Mining Weekly Online that the company was now gearing up for serious... 

Potash Corp Q3 earnings drop on lower offshore sales

By: Henry Lazenby     25th October 2012 Saskatchewan-based Potash Corp posted a 21% drop in third-quarter earnings as record third-quarter North American potash sales volumes were offset by an offshore sales decline. The world’s biggest potash producer on Thursday reported earnings for the quarter ended September 30 of $645-million or... 

Verde Potash to capitalise on Brazil’s growing global food production

By: Henry Lazenby     19th October 2012 The development of Brazil into what could very well be the world’s food basket for numerous generations to come, augured well for TSX-listed Verde Potash, which is developing the largest potash mine in the country, to fulfil the country’s growing crop-nutrients requirements. The company was busy... 

Mosaic profit dives on low phosphate sales

By: Henry Lazenby     2nd October 2012 The world’s largest fertiliser producer Mosaic on Tuesday reported an 18% drop in profit for the first quarter of the 2013 financial year, as a result of weak phosphate sales and droughts in key food-producing regions. Mosaic reported net earnings of $429-million or $1.01 a share for the quarter... 

IC Potash confirms long-term water supply for New Mexico project

By: Henry Lazenby     11th September 2012 Toronto-listed IC Potash (ICP), developing the Ochoa project in New Mexico, on Tuesday said a water supply study has confirmed an aquifer’s ability to sustainably supply the project's water needs. The test successfully demonstrated the desired pumping capacity of two wells drilled earlier this... 

Karnalyte Resources signs EPCM agreement for Saskatchewan project

By: Henry Lazenby     6th September 2012 Canadian potash project developer Karnalyte Resources on Thursday said it had signed an engineering, procurement and construction management (EPCM) agreement with Foster Wheeler Canada to provide EPCM services for the Wynyard carnallite project, located in Canada’s Saskatchewan province. The... 

BHP Billiton shuts silicomanganese plant, impairment tests aluminium 

By: Martin Creamer     22nd August 2012 Diversified miner BHP Billiton has shut its Metalloys silicomanganese plant in Meyerton “permanently” and confirmed that its South African aluminium assets have been subjected to impairment testing. With the outlook for energy coal also clouded, the latest presentation of BHP Billiton for the... 

Sprott closes $7.5m financing with Idaho phosphate developer

By: Henry Lazenby     21st August 2012 Strategic lending firm Sprott Resource (SRC) on Tuesday said it had closed a $7.5-million deal with phosphate project developer Stonegate Agricom to assist it with environmental permitting activities at its Paris Hills phosphate project, in Idaho. Stonegate said in July that it was in need of... 

Polyhalite – an almost forgotten potash source back from the brink

By: Henry Lazenby     17th August 2012 It would seem as if an old kid is back on the potash block in the form of polyhalite, from which sulphate of potash (SOP), among other products, is produced, as three contemporary companies vie to enter a newly expanding market. SOP was initially derived from polyhalite (which is a Latin word... 

Solar de Olaroz lithium-potash project, Argentina

By: Sheila Barradas     3rd August 2012 A lithium-potash mine located in Argentina’s north-western province of Jujuy. 

Amplats’ Nqwababa rejects platinum exchange, backs consolidation  

By: Martin Creamer     24th July 2012 Struggling platinum major Anglo American Platinum (Amplats), which is reeling from a R264-million “bloodbath” loss for the first six months of 2012, is against the formation of a potash-type single-channel marketing organisation to stabilise falling prices. Instead, acting Amplats CEO Bongani... 

Karnalyte to build Saskatchewan magnesium co-products plant

By: Henry Lazenby     19th July 2012 Toronto-listed Karnalyte Resources on Thursday said it planned to build a 100 000 t/y magnesium co-products plant at its flagship Wynyard carnallite project, in Saskatchewan, based on the positive results of a preliminary feasibility study (PFS). 

2012 seen as record year for potash fertiliser consumption

By: Natasha Odendaal     27th June 2012 TSX-listed PotashCorp said on Tuesday that 2012 would mark a record year for global potash fertiliser consumption, driven by growth in China, Brazil and South East Asia markets. The company noted in a presentation that the continuous improvement required in crop productivity and need for... 

New Merafe CEO backs chrome exchange proposal 

By: Martin Creamer     20th June 2012 The formation of a chrome exchange would help to stabilise the threatened South African ferrochrome industry, says new Merafe Resources CEO Zanele Matlala. Matlala, who took over the reins of the JSE-listed Merafe from Stuart Elliot at the beginning of June, was commenting on the statement of... 

Lithium Americas completes DFS on Argentina project

By: Henry Lazenby     18th June 2012 Canada-based Lithium Americas on Monday announced a definitive feasibility study (DFS) for its Cauchari-Olaroz project, in Argentina, had confirmed the resource as the third-largest lithium brine resource in the world. The estimated reserve of 1.6-million tons of battery-grade lithium carbonate... 

Pacific Potash eyes Western Potash’s Brazil assets

By: Henry Lazenby     15th June 2012 Canadian potash miner Pacific Potash on Thursday said it had signed an ‘arms-length’ letter of intent to acquire Moonraker, which holds an option over an 80% stake in Western Potash’s Brazilian assets. The move signals Pacific Potash’s intention to join the likes of Potassio do Brasil,... 

Brazil Potash eyes Q4 $300m-$500m Bovespa IPO, CEO says

By: Matthew Hill     31st May 2012 Brazil Potash, hot on the heels of raising $58.6-million in equity this week, aims to sell another $300-million to $500-million worth of shares in a Brazilian initial public offering either in the last quarter of 2012 or the first three months of 2013, CEO David Argyle said in an interview on... 

Seafloor phosphate mining in prospect off Namibia 

By: Martin Creamer     29th May 2012 The proposed seafloor phosphate mining project in Namibia will be undertaken in an environmentally responsible and sensitive manner, Namibian Marine Phosphate project GM David Wellbeloved assures. Technology is available to ensure minimal environmental interference and the phosphate mining... 

Canada aims to restore CP Rail service Thursday

By: Reuters     29th May 2012 The Canadian government will force striking workers at Canadian Pacific Railway back to work with fast-track legislation aimed at restoring rail service by Thursday, Labour Minister Lisa Raitt said on Monday. The government introduced the legislation in the House of Commons on Monday to end a... 

Rio Verde jumps on share sale at premium

By: Matthew Hill     28th May 2012 Toronto-based Rio Verde’s stock rose by one-third on Friday, after the Brazil-focused fertiliser hopeful said it was selling shares at an 87% premium to the previous day’s closing price to raise C$15-million. In a market where many junior exploration companies have been forced to cancel their... 

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