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Potash News

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... 

CP strike threatens Canada's name as reliable potash supplier

By: Matthew Hill     25th May 2012 The Canadian Pacific (CP) railway strike that started May 23 in Canada could damage the country’s reputation as a reliable potash supplier, a producer of the crop nutrient cautioned on Friday. While the work stoppage at CP, which carries virtually all of Canada’s potash exports, has not impacted... 

Ethiopian potash prospects buoyed by acquisition, says junior

     18th May 2012 The decision by Norwegian fertilizer group Yara International last week to up its stake in Ethiopian potash company Ethiopotash BV to 51% from 16.67%, is being perceived by companies such as exploration group Allana Potash as a positive indicator for the potash sector. 

Elemental Minerals hikes Congo potash resources 265%

By: Matthew Hill     8th May 2012 Elemental Minerals, exploring for potash in the Republic of Congo, on Tuesday announced it grew measured and indicated resources at its Kola deposit to just under one-billion tons. CEO Iain Macpherson said the increased tonnage reinforced management’s confidence that the TSX- and ASX-listed... 

Allana Potash Corp announces 1.3bn t Ethiopian potash resource

By: Henry Lazenby     2nd May 2012 Allana Potash earlier this week announced a National Instrument 43-101-compliant potash resource of 1.3-billion tons at its Danakil potash project, in Ethiopia. The resource holds an average grade of 19.32% potassium chloride, representing about 250-million tons, more than a 90% increase over... 

Potash Corp expects bumper Q2 sales, profit drops

By: Henry Lazenby     26th April 2012 Saskatchewan-based Potash Corp on Thursday said it expected significantly increased demand for potash and related products in the second quarter this year, with CEO Bill Doyle painting a bullish outlook for the rest of the year and into 2013. Demand for the agricultural aide fell sharply during... 

Ethiopian Potash appoints new directors

By: Henry Lazenby     13th April 2012 TSX-V-listed Ethiopian Potash Corp (EPC) on Thursday announced the appointment of Bruce Cumming and CFO Michael Galloro as directors, following the resignation of Paul DesLauriers, Robert Metcalfe and Binh Vu from the board. Acting CEO and director George Roach said the board changes were part... 

K+S to officially start building Legacy potash mine in June

By: Matthew Hill     4th April 2012 Germany’s K+S said it will hold a ground-breaking ceremony at its C$3.25-billion Legacy potash project in Saskatchewan on June 19, after having received board sanctioning in November. The fertiliser maker also said project manager for the development, Mike Ferguson, will leave the role on the... 

IC Potash sees C$40m cheque from Yara

By: Matthew Hill     31st March 2012 TSX-listed IC Potash (ICP), developing the Ochoa project in New Mexico, will sell a 19.9% to Norway’s Yara International for about C$40-million, in what the Toronto-based company calls a “transformational” deal, which also involves 30% of the project’s future offtake. Yara will pay C$1.32 a... 

Stonegate's prefeas gives Idaho project $179.4m NPV

By: Matthew Hill     27th March 2012 The results of the prefeasibility study for Stonegate Agricom’s Paris Hills phosphate project in Idaho might arrived three months later than hoped, but they outlined the one-million-ton-a-year operation CEO Mark Ashcroft had been gunning for, which would pay back its capital after just over... 

April Fools' Day startup for Potash Corp's suspended mines

By: Matthew Hill     23rd March 2012 Potash Corp, the biggest fertiliser producer, said on Friday two of its major mines in Saskatchewan are on track to restart production on April 1, after soft demand led it to idle the Rocanville and Lanigan mines. A spokesperson said the total production impact from the suspensions will be... 

African Potash upbeat about Congo project

By: Natasha Odendaal     23rd March 2012 Aim-listed African Potash said on Friday it was hopeful of shortly completing its acquisition of a potash exploration company in the Republic of Congo. The exploration and investment company in February agreed to buy Patagonia Capital, which held a 70% interest in Congo-based La Societe des... 

Canpotex-China potash price unchanged in Q2

By: Matthew Hill     20th March 2012 Shares in Potash Corp rose on Tuesday morning, after Canpotex, the marketing arm of Canada’s potash producers, said prices for the crop nutrient it supplies to China will remain flat in the second quarter. Canpotex, which also includes Mosaic and Agrium Inc, said under the deal it signed with... 

Drama continues at Ethiopian Potash

By: Matthew Hill     8th March 2012 There have been some strange goings on at Ethiopian Potash in the past month, which on Wednesday culminated in CEO David Wahl’s abrupt exit, after just 18 months on the job. The TSX-V-quoted company in the same announcement said it was in talks to sell a near-20% stake to a strategic investor,... 

Verde to raise up to C$28m for Brazilian potash project

By: Matthew Hill     2nd March 2012 Toronto-based Verde Potash said on Thursday it hired financial institutions to raise up to C$28.7-million to develop its Cerrado Verde project in Brazil. A preliminary economic assessment announced in January foresaw a staged project at Cerrado Verde, with the first phase to produce 600 000 t/y... 

'We love price', says Potash Corp COO

By: Matthew Hill     1st March 2012 Demand for potash will likely grow by more than 36%, or 15-million tons yearly, over the next decade, Potash Corp COO David Delaney said on Wednesday. And while cautious buying since November last year caused producers including the world’s biggest to idle some mines, demand will return in the... 

Montero says SA phosphate mine to cost C$129m

By: Matthew Hill     29th February 2012 Toronto-based Montero Mining, which owns a rare earths project in Tanzania, on Tuesday said a scoping study gave its Duyker Eiland phosphate asset in South Africa’s Western Cape a C$150-million net asset value at a 10% discount rate, forecasting it would cost $129-million to build a 490 000 t/y... 

'Terrific' potash sales soon - Coxe

By: Matthew Hill     25th February 2012 Almost exactly ten years ago, BMO Financial Group strategy advisor Don Coxe correctly forecast commodities were moving into the biggest bull market yet. On Friday, he said investors in commodity markets can still expect at least another two decades of, at least relatively, good times. “For the... 

Can former UraMin team pull it off again with Congo potash?

By: Matthew Hill     23rd February 2012 While Elemental Minerals is sitting on what Northern Securities analyst Fadi Benjamin calls “the best potash project in Africa...hands down”, the biggest challenge facing the company is raising the $1.7-billion required to bring its Sintoukola deposit in the Republic of Congo (RoC) into... 

Curiouser and curiouser at Ethiopian Potash

By: Matthew Hill     15th February 2012 In a strange twist of events, Ethiopian Potash exploration VP Bruce Cumming announced his own resignation this week, through what the TSX-V-listed junior called an “unauthorised press release”. While Ethiopian Potash acknowledged Cumming’s exit, the company said it was “puzzled by the... 

Mosaic joins potash-production cutting party on soft demand

By: Matthew Hill     4th February 2012 Potash dealers are holding back from buying the crop nutrient even more than North America’s second-biggest producer, Mosaic Corp, anticipated they would a month ago, prompting the company to idle up to 20% of its capacity up to May. However, like its larger competitor Potash Corp, the... 

Doyle undaunted as potash demand dips

By: Matthew Hill     27th January 2012 Markets for potash might have seized up at the end of last year and into 2012, but demand will likely bounce back equally quickly, Potash Corp CEO Bill Doyle said on Thursday. “This business turns on a dime,” the head of the world’s biggest fertiliser producer said on a conference call,... 

Potash Corp Dec quarter profit misses estimates

By: Matthew Hill     26th January 2012 A surprisingly swift fourth-quarter slowdown in fertiliser markets ate into Potash Corp earnings for the period which, at $683-million, was 34% higher than for the same period in 2010, but well below analyst expectations. Potash demand in North America was particular poor for the last three... 

Potash Corp hikes dividend

By: Matthew Hill     26th January 2012 Potash Corp, the biggest fertiliser-maker, on Wednesday said it is increasing its quarterly dividend by 100% to $0.14 a share, having also doubled the payout a year ago. CEO Bill Doyle said the increase “reflects the confidence we have in the drivers of our business”, despite the fact that the... 

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