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Potash News

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. 

PotashCorp says market caution to blame for Q3 earnings dip

By: Henry Lazenby     24th October 2013 The world’s largest potash and crop nutrient producer, Canada’s Potash Corporation of Saskatchewan (PotashCorp), on Thursday said the unexpected July unravelling of the world's largest potash cartel, the Belarus Potash Company (BPC), had resulted in a “predictable”, extremely cautious market... 

Allana Potash gets Ethiopian large-scale mining licence

By: Henry Lazenby     18th October 2013 Project developer Allana Potash on Thursday announced that it had last week received the large-scale mining licence from Ethiopian authorities it needed to proceed directly to contracting, construction and operations at its $642-million Danakhil potash project. Allana said that following... 

MBAC Fertilizer reports robust economics for Brazil project

By: Henry Lazenby     17th October 2013 TSX-listed MBAC Fertilizer on Thursday reported positive results from a feasibility study for the Santana phosphate project, located in Brazil’s Para state, attaching an after-tax net present value of $396-million to the project, which was slated to cost about $426.7-million to build. The... 

IC Potash expects to finalise feasibility study by December

By: Henry Lazenby     10th October 2013 US-focused potash project developer IC Potash (ICP) on Thursday said it expected to complete a feasibility study on its flagship Ochoa sulphate of potash (SOP) project, in south-eastern New Mexico, by December, which would pave the way for management to continue financing negotiations with... 

Cameco’s Gitzel joins Mosaic board

By: Henry Lazenby     4th October 2013 Canadian uranium miner Cameco’s CEO Tim Gitzel was this week appointed to US fertiliser giant The Mosaic Company’s board, filling a vacancy left by Harold MacKay’s retirement. Gitzel had served as Cameco's president and CEO since 2011. He joined Cameco, one of the world's largest uranium... 

Prospect Global Resources gets air permit for Arizona project

By: Henry Lazenby     2nd October 2013 Potash project developer Prospect Global Resources on Wednesday announced that it had received its air quality control permit for the construction and operation of an underground potash mine and surface processing facilities from the Arizona Department of Environmental Quality. The company said... 

Prospect Global Resources appoints board members

By: Henry Lazenby     30th September 2013 Potash project developer Prospect Global Resources on Monday said it had appointed Daniel Neumann and Reed Dickens to its board, to replace Marc Holtzman, ZZ Qiu and Conway Schatz who had resigned. Neumann brings 16 years of finance experience, the majority of which was at financial services... 

Verde Potash project in the running for Brazil govt funding

By: Henry Lazenby     23rd September 2013 TSX-listed Verde Potash on Monday said a special financing programme of the Brazilian government, Inova Agro, had selected the company to advance to the next round of evaluation in the process to secure financing for Phase 1 of the Cerrado Verde project. The proposed 1 000 t/d first-phase plant... 

Karnalyte cleared to start permitting for Saskatchewan flagship

By: Henry Lazenby     19th September 2013 Saskatchewan-focused potash project developer Karnalyte Resources on Thursday announced that the provincial Environment Ministry had given it the green light to proceed with construction permitting for the Wynyard carnallite project, after the company had cleared all conditions set out in its... 

Mosaic lowers Q3 price and volume guidance as market softens

By: Henry Lazenby     17th September 2013 US fertiliser producer Mosaic on Monday said domestic and international crop nutrient markets have softened since July, in part as a result of the distributors' cautiousness caused by the Belarusian Potash Company (BPC) break-up, prompting the company to lower its third-quarter price and volume... 

Verde Potash reports positive results from new ThermoPotash trials

By: Henry Lazenby     12th September 2013 Brazil-focused Verde Potash on Thursday reported positive results for a field test of a new potash product called ThermoPotash (TK), which the company plans to produce, with coffee crops. The trial indicated that TK was more efficient in delivering potassium than potassium chloride (KCl),... 

ARM’s Motsepe confident SA will get through current labour impasse 

By: Martin Creamer     2nd September 2013 South Africa would get through its current labour impasse and emerge as a competitive global investment destination, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Monday. Motsepe was responding to Mining Weekly Online after his black-led diversified mining company... 

Verde Potash reveals new phased development for Brazil project

By: Creamer Media Reporter      21st August 2013 Brazilian fertiliser development company Verde Potash now plans to undertake the development of its Cerrado Verde potash project, in Minas Gerais, Brazil, in a phased approach. The company on Wednesday revealed details of its new strategic direction for the project, saying it has moved away from... 

South Africa all but off BHP Billiton’s radar screen 

By: Martin Creamer     21st August 2013 South Africa has all but fallen off the radar screen of BHP Billiton, the world’s biggest mining company, which on Tuesday reported an 8.7% fall in revenue to $65.9-billion for the year ended June. The name of the country did not cross the lips of new CEO Andrew Mackenzie and one got the... 

Prospect Global Resources starts fourth drilling campaign on Arizona potash play

By: Henry Lazenby     7th August 2013 Colorado-based Prospect Global Resources on Wednesday said it had started Phase 4 drilling on its flagship potash project in the Holbrook Basin, in Arizona, with the aim of drilling 16 to 17 holes to convert more inferred resources to the measured and indicated categories. The drilling programme... 

Potash cartel’s unravelling to deter new entrants

By: Henry Lazenby     31st July 2013 Russian potash producer Uralkali’s announcement on Tuesday that it would stop selling potash through the Belarusian Potash Company (BPC) was a significant development that would have far-reaching effects on lowering the potash price and making it more difficult for new entrants to enter the... 

Potash Corp slashes full-year outlook as earnings disappoint

By: Henry Lazenby     25th July 2013 The world’s largest producer of the crop nutrient potash, Canada’s Potash Corp of Saskatchewan, on Thursday announced earnings that, despite being up 23% year-on-year, came in below analyst expectations as the company dealt with lower nutrient prices and reduced potash sales volumes. It also... 

Galaxy reviews Sal de Vida study

By: Esmarie Swanepoel     19th July 2013 Lithium miner Galaxy Resources on Friday told shareholders that it would look to revise the feasibility study of its Sal de Vida brine and potash project, in Argentina, after its potential joint venture (JV) partner failed to meet its equity deadline. Earlier this month, Galaxy extended the date... 

Verde Potash appoints COO

By: Henry Lazenby     16th July 2013 Brazilian fertiliser development company Verde Potash on Monday appointed Antônio Schettino as COO, replacing Pedro Ladeira, who would continue with Verde as a technical adviser focusing on the company's pyro process. Schettino joined Verde from MMX Mineração e Metálicos, where he was COO... 

CP and K+S Potash inks long-term transportation contract

By: Henry Lazenby     11th July 2013 German fertiliser-maker K+S Potash Canada on Wednesday signed a long-term volume-based transportation contract with rail operator Canadian Pacific (CP) to move potash from the C$4.1-billion Legacy mine, near Moose Jaw and Regina, in Saskatchewan, to a Western Canadian port for export to overseas... 

MBAC Fertilizer starts SSP production at Brazil project

By: Henry Lazenby     11th July 2013 Project developer MBAC Fertilizer Corp on Thursday said it had started single super phosphate (SSP) powder production at its Itafós Arraias project, in Brazil, becoming the first large-scale fertiliser producer in the agricultural Cerrado area. MBAC said it expected to be in a position to start... 

MagIndustries, East China Engineering sign $497m development deal

By: Natasha Odendaal     11th July 2013 TSX-listed MagIndustries on Wednesday said an earlier framework agreement with East China Engineering Science and Technology for the development of the proposed Africa-based Mengo potash project had progressed into a $497-million general construction contract. MagIndustries is aiming to develop... 

MBAC Fertilizer clears last regulatory hurdle, to start sales in July

By: Henry Lazenby     28th June 2013 Toronto-listed phosphate and potash producer MBAC Fertilizer on Friday said it had received the final operating licence from the Tocantins State Environmental Agency to produce phosphate at its large Itafós Arraias project, in Brazil. The licence would allow the company to operate all plants,... 

Pacific Potash inks provisional offtake deal with CapitalAsia

By: Henry Lazenby     19th June 2013 CapitalAsia Investment Holdings Group on Wednesday signed a nonbinding memorandum of understanding to buy potash from TSX-V-listed project developer Pacific Potash Corp, if its flagship project in Brazil's Amazonas state is built. Under the terms of the agreement, which would last for a maximum... 

Potash rebound to boost Saskatchewan economy

By: Henry Lazenby     19th June 2013 Strengthening mining output is expected to drive Saskatchewan's economy this year, with provincial real gross domestic product growth projected to reach 2.9% in 2013 and 3.7% in 2014, financial services provider RBC Economic Research's latest ‘Provincial Outlook’ has stated. In 2012, RBC's... 

Verde Potash’s final exploration reports approved

By: Henry Lazenby     18th June 2013 The final exploration reports for TSX-listed Verde Potash’s Cerrado Verde mineral licences were given the nod by the National Department of Mineral Production (DNPM), paving the way for the fertiliser developer to submit an economic development plan. “We are pleased that the DNPM has approved the... 

Karnalyte Resources appoints equipment-engineering contractor

By: Henry Lazenby     17th June 2013 Saskatchewan-based potash project developer Karnalyte Resources on Monday announced it has appointed Whiting Equipment Canada for the engineering and design of evaporators, potash crystallisers and auxiliary equipment at the company’s planned solution-mining facility, located near Wynyard.... 

Karnalyte Resources ‘one step closer to dream’, secures $300m debt

By: Henry Lazenby     14th June 2013 Potash project developer Karnalyte Resources on Friday said it had engaged financial services providers BNP Paribas and Natixis (New York) as lead arrangers to underwrite project financing to the value of $300-million to be used to fund the construction and commissioning of the Wynyard carnallite... 

BHP entry threatens creaking global potash duopoly

By: Reuters     10th June 2013 he prospect of new competition from miner BHP Billiton could dynamite the cracks appearing in a potash duopoly that accounts for 70% of global trade in the fertiliser. For decades two export groups, Belarus Potash Company (BPC), which represents producers in Russia and Belarus, and Canpotex, its... 

Verde Potash confirms board appointments and selects chairperson

By: Henry Lazenby     7th June 2013 Brazilian project developer Verde Potash on Friday said it has confirmed the appointment of mining and finance executive Leonardo Moretzsohn to its board and had appointed him as the chairperson during the company’s annual general meeting, which took place on Wednesday. During the meeting, all... 

Verde Potash further strengthens leadership

By: Henry Lazenby     5th June 2013 Brazilian project developer Verde Potash on Wednesday continued to strengthen its board with the appointment of José Fernando Coura. Coura, who joined the board following the company’s annual general meeting, is currently the CEO of the Instituto Brasileiro de Mineração (IBRAM - Brazilian Mining... 

Allana shares spike after Ethiopian authorities approve impact assessment 

By: Henry Lazenby     27th May 2013 The TSX-listed shares of Ethiopia-focused project developer Allana Potash on Monday jumped almost 15% after authorities approved its environmental-, social- and health-impact assessment (ESHIA) last week, which was seen as an important milestone on the road to being granted a mining licence for... 

Verde Potash stocks jump on finance executive’s board appointment

By: Henry Lazenby     24th May 2013 The Toronto-listed stock of Verde Potash, which is developing the Cerrado Verde project in the heart of Brazil’s largest agriculture market, the “Cerrado”, in Minas Gerais state, on Friday rose more than 24% on the news that the company had appointed mining and finance executive Leonardo... 

Brazil on cusp of domestic potash and phosphate revolution

By: Simon Rees     25th April 2013 Fertilisers and their increased application will be vital in driving Brazil’s status as a global agricultural powerhouse. The country is already the world’s fourth-largest consumer, according to Reuters. Rather than rely on imported raw material for fertiliser production, Brazil’s government is... 

Sirius submits requested additional information on York project

By: Natalie Greve     23rd April 2013 Aim-listed Sirius Minerals has submitted a range of requested documents relating to the UK-based York potash project to the North York Moors National Park Authority (NYMNPA) to secure project planning approval. This followed a request by the NYMNPA and its specialist consultants last month for... 

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