Agrium, Potash and Mosaic sell potash offshore through jointly owned Canpotex.
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" Potash Corp of Saskatchewan: "I think that Potash has had a big run.
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Potash Corp, Agrium and other potash players dominate the U.S. market by leveraging their own warehouses and longtime leases with others to position potash for just-in-time application by farmers.
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It ships potash offshore that Potash Corp, Mosaic and Agrium produce in the western province of Saskatchewan.
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But Potash Corp's realized price for potash fell 16 percent to $238 per tonne in the fourth quarter.
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In October, Mosaic laid off 8 percent of its workforce at a Canadian potash mine and last month Potash Corp of Saskatchewan said it would shut in its newest potash mine, in eastern Canada.
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Agrium's move follows Potash Corp of Saskatchewan's November announcement that it would halt production of red potash at its Cory, Saskatchewan mine to focus instead on white potash, which has applications in the pharmaceutical industry.
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Major suppliers to India also include Belarus Potash company, Potash Corp of Saskatchewan, Agrium Inc , Mosaic and K+S.
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|
It has more nutrients that plants need than the two mainstream products, sulphate of potash and muriate of potash.
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Pending regulatory approval, Potash Corp is merging with rival Agrium Inc, which runs a potash mine at Vanscoy, Saskatchewan.
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|
As demand for potash has fallen worldwide, Potash Corp, the world's biggest fertilizer company by capacity, has in recent months closed its Penobsquis potash mine in New Brunswick and suspended production at three mines in Saskatchewan.
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Legacy would be the first new mine in the potash industry in four decades and undermines efforts by potash industry leader Potash Corp and North American export cartel Canpotex to cut output to shore up prices.
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Potash Corp said last month that it expected to sell 8.3 million to 9.1 million tonnes of potash this year.
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The move comes after Potash Corp last month closed its newest potash mine in New Brunswick, citing weak market conditions.
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|
Potash Corp expects 2017 potash sales to rise to between 8.7 million and 9.4 million tonnes, from 8.6 million in 2016.
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Major potash suppliers to India include Uralkali, Potash Corp of Saskatchewan , Agrium Inc, Mosaic, K+S, Arab PotashCo and Israel Chemicals.
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Major potash suppliers to India include Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab PotashCo and Israel Chemicals.
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The company raised its forecast for potash sales volumes to between 12.3 and 12.8 million tonnes, citing strong global potash demand.
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NEW YORK, May 18 (Reuters) - Governance changes at Chile lithium producer SQM, which give shareholder Potash Corp of Saskatchewan greater influence, do not reflect any intent by Potash to raise its stake, Potash Corp's chief executive said on Thursday.
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Saskatchewan is the home base of Potash Corp of Saskatchewan , and rivals Mosaic Co and Agrium Inc also operate potash mines there.
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TO. The review comes as potash miners struggle with sharply lower profits due to the weakest potash prices in nearly a decade.
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"The changes will position Vanscoy to operate more efficiently within Nutrien's entire potash network," said Susan Jones, president of Nutrien Potash unit.
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Even so, Potash Corp forecast global potash demand of 61 million to 64 million tonnes this year, exceeding last year's 60 million tonnes.
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The combination would help Potash, which produces half the potash in North America, reduce its exposure to volatile prices for the potassium product.
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|
After joining potash supplier ICL four years ago, Borgas had to find a strategy to operate in an environment of slumping potash prices.
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Agrium continues to ramp up production of its Saskatchewan potash mine, and funnels much of the potash through its North American retail stores.
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Average diammonium phosphate selling price fell 7.9 percent in the latest quarter, while average potash MOP (muriate of potash) selling price fell 16.9 percent.
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EuroChem expected global potash demand to grow at about 2 percent a year, said Tom Luigs, head of potash and phosphates at EuroChem Trading.
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|
India has fixed the potash subsidy at 11.124 rupees per kg for 2018-19, down from 12.395 rupees this year, a government statement said Global producers including Uralkali, Potash Corp of Saskatchewan, Mosaic, K+S, Arab Potash and Israel Chemicals are key suppliers to India.
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The company, which operates six Canadian potash mines, wants to shift production to its lowest-cost facilities, said Raef Sully, president of Nutrien's potash business.
|
|
Belarus on Monday agreed to sell 700,000 tonnes of potash to Indian Potash Limited (IPL) at $227 per tonne, the lowest price in a decade.
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Belarus on Monday agreed to sell 700,000 tonnes of potash to Indian Potash Limited (IPL) at $227 per ton, the lowest price in a decade.
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|
K+S AG's new Legacy potash mine in Western Canada, opening this year, will produce industrial products along with common potash, spokesman Michael Wudonig said.
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It will be challenging to boost U.S. production of potash, used to make fertilizer for farmers, said Canada's Nutrien Ltd, North America's largest potash producer.
|
|
Potash MOP (muriate of potash) cash production costs dropped 28 percent in the fourth quarter from a year earlier, while phosphate conversion costs fell 2.53 percent.
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|
What's next, according to Potash: "Virtual reality and augmented reality are going to expose reading to an audience that's used to bright, shiny things," Potash says.
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Indian Potash Ltd, IFFCO, Deepak Fertilisers and Petrochemicals Corp, Rashtriya Chemicals and Fertilizers Ltd, Coromandel International Ltd are some of the top potash players in India.
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Potash Corp said in April that it expects global potash shipments this year to be between 1 million and 3.53 million tonnes higher than in 2016.
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|
Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold its Potash position in June.
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The contract price is fair and reflects the current conditions in the global potash market, Elena Kudryavets, director general of Belarusian Potash Company, said in a statement.
|
|
The potential subsidy cut seems counter to recent government decisions aimed at an imbalance in subsidies for potash compared with nitrogen, Potash Corp spokeswoman Denita Stann said.
|
|
MINSK, June 27 (Reuters) - Belarus has signed a new potash supply contract with India, Belarus Potash Company, its state-controlled trader, said in a statement on Monday.
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Earlier this year, Potash Corp decided to close its newest potash mine in New Brunswick and to curtail production at two other Canadian mines for four weeks.
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Potash sought to diversify with Agrium's farm retail network, while Agrium management worked to address investor concerns that the deal exposed them further to low potash prices.
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ICL's potash production rose to 1.16 million tonnes in the quarter from 1.06 million a year earlier, while potash sales grew to 1.11 million tonnes from 1.01 million.
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|
The U.S. market for potash - a key type of fertilizer used to grow corn and wheat - is already dominated by Potash Corp of Saskatchewan, Agrium Inc and Mosaic.
|
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Belarusian Potash Company (BPC) and Israel Chemicals (ICL) have agreed to supply potash at the same rate to India, one of the world's top buyers of the material.
|
|
One of India's biggest fertiliser importers, Indian Potash Limited (IPL), will buy 700,000 tonnes of potash at $13 per tonne on a cost and freight (CFR) basis with a credit period of 180 days, Belarusian Potash Company, Belarus's state-controlled trader of this fertiliser, said in a statement on Monday.
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This, coupled with a rise in import prices, may mean Indian fertilizer makers will raise retail prices for farmers, possibly trimming Indian potash demand to 3.5 million tonnes from some 4 million tonnes a year ago, said P.S. Gahlaut, managing director of Indian Potash Ltd (IPL), the country's top potash importer.
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Potash demand this year has been robust, helped by low prices and brisk offshore sales by Canpotex Ltd, the export company owned by Potash, Agrium Inc and Mosaic Co .
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|
Revenues, operating profit and profit margins over sales at the salt unit lagged behind the potash division for many years, but last year it overtook potash in all three.
|
|
Global producers including Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab Potash and Israel Chemicals have been hoping for robust demand to help counter weak prices.
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MINSK (Reuters) - Belarus has signed a new potash supply contract with India, President Alexander Lukashenko said on Thursday, adding that he was considering cooperation with Russian potash producer Uralkali.
|
|
Core earnings from potash increased 41 percent to $461 million buoyed by higher prices, even as total potash sales volume in the quarter fell 7 percent to 2.9 million tonnes.
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|
Uralkali, the world's biggest potash producer, has said the price agreed by Belarus was too low and it was not yet ready to sign a potash supply contract with India.
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|
" Potash Corporation of Saskatchewan: "Potash has got that 9 percent yield, which means that I think that the dividend may not be able to be covered by the cash flow.
|
|
Reflecting the decline in fortune of the potash industry, the $36 billion value of the merged companies is well below the $39 billion BHP proposed to pay for Potash alone.
|
|
Canadian rival Nutrien Ltd this month reported a better-than-expected quarterly profit, driven by higher prices for potash and nitrogen fertilizers and raised its forecast for potash sales volumes.
|
|
Uralkali, the world's biggest potash producer, has said the price agreed by BPC was too low and it was not yet ready to sign a potash supply contract with India.
|
|
"Despite the current short-term market conditions, we remain positive on potash demand for 2020, as well as the medium to long-term potash fundamentals," Nutrien said in a statement.
|
|
"There is stagnation or even a decline in the amounts of potash being bought relative to 2015 and I don't see capacity cuts by potash producers during the year," he said.
|
|
The contract price with Belarus is too low, and Uralkali, the world's biggest potash producer, is not yet ready to sign a potash supply contract with India, said a company spokesman.
|
|
The company said it planned eight-week inventory shutdowns at its Allan, Lanigan and Vanscoy potash mines in the fourth quarter, adding it would reduce potash production by about 700,000 tonnes.
|
|
Potash Corp of Saskatchewan Inc rose 2.9 percent to C$23.49, and merger partner Agrium Inc gained 2.9 percent to C$131.18 on prospects of less competition in the potash market.
|
|
" Potash Corp of Saskatchewan: "I like the ag complex.
|
|
A combined Potash and Agrium would control 62 percent of potash capacity in North America, 30 percent of phosphate production capability and 29 percent of nitrogen capacity, according to National Bank Financial.
|
|
Potash Corp's results were mostly in line with expectations, but the company's second-half prospects may not be bolstered by improving potash market conditions, disappointing some investors, Citi analyst P.J. Juvekar said.
|
|
Potash Corp, the world's third-largest potash producer, forecast global demand of 163 million to 65 million tonnes this year, up from an earlier forecast of 61 million to 64 million tonnes.
|
|
Asked if he would consider selling the potash business, O'Rourke said Mosaic's stock price does not reflect that business's value, especially compared to BHP Billiton PLC's planned potash mine in Jansen, Saskatchewan.
|
|
Pressure on Potash stock is likely to be short-lived as investors quickly turn their attention to the merger, said Brian Madden, portfolio manager at Goodreid Investment Counsel, which owns Potash shares.
|
|
Fertilizer producer Potash Corp was the most influential gainer, rising 5.2 percent to C$22.13, while Agrium Inc, which is set to merge with Potash this year, advanced 214.47 percent to C$20.7.
|
|
K+S' revenue from industrial potash fell 6 percent in the first nine months of 2016 from the year-ago period, compared with a steeper plunge of 31 percent in common potash sales.
|
|
The two biggest potash producers, Potash Corp of Saskatchewan and Russia's Uralkali, have recently cut output to tighten supply and stem price declines of the nutrient, which helps boost crop quality and yields.
|
|
K+S, which fended off a takeover approach by Potash Corp of Saskatchewan last year, stood by plans to bring a new Canadian potash mine known as Legacy on stream by end-2016.
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|
First, to make glass you'd need silica, potash, and lime.
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|
Then I have to like Mosaic, Agrium and yes, Potash.
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|
Agrium, which is merging with Potash Corp of Saskatchewan POT.
|
|
Lucrative potash deposits straddling the border have since been neglected.
|
|
Even so, the company will curtail potash production this year.
|
|
Potash Corp CEO Jochen Tilk will be its executive chairman.
|
|
The province is the home of Potash Corp of Saskatchewan.
|
|
Potash Corp declined to comment and Agrium did not respond.
|
|
Born in Brooklyn, his birth name was Richard Jay Potash.
|
|
Last year, it launched a $1 billion potash fertiliser plant.
|
|
Potash shareholders would own 52 percent of the new company.
|
|
Canada's Potash Corp was also seen as a potential buyer.
|
|
WASHINGTON/CALGARY, Alberta (Reuters) - Potash Corp of Saskatchewan Inc POT.
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Fertilizer producer Potash Corp was the most influential gainer, rising 3.9 percent to C$21.86, while Agrium Inc, which is set to merge with Potash later this year, advanced 3.9 percent to C$12.1.
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|
Canpotex Ltd, the export potash sales agency for Potash, Mosaic and Agrium Inc, earlier this year reduced first-half export plans by 1.5 million tonnes, representing nearly 8 percent of its estimated 2015 sales.
|
|
K+S, the world's largest salt producer and the fifth-largest seller of potash, is grappling with a slump in potash earnings, hurt by lower fertilizer prices and output restrictions at its German mines.
|
|
Potash prices have fallen sharply over the past year, under pressure from bloated capacity, soft grain prices and weak currencies in major consumers such as India and Brazil, one of Potash Corp's largest customers.
|
|
A recent intervention by the Chinese government in the negotiation of prices for the mineral potash seems to prove that when the Russian and Belarusian potash companies were not working together, prices came down.
|
|
In July, BHP potash analyst Paul Burnside made a case for potash, arguing that a counter-cyclical investment would help position the company for rising demand for the commodity over the next few decades.
|
|
Canadian rival Nutrien, formed by the merger of Agrium Inc and Potash Corp of Saskatchewan in January, raised its full-year adjusted profit forecast last week, driven by strong demand for its potash fertilizers.
|
|
Last month, Potash and Agrium agreed to join forces in an all-stock deal that will allow Potash shareholders to own 52 percent of the new company, with the rest going to Agrium shareholders.
|
|
To be sure, some think high-cost potash mines are too small, even if closed, to cure low prices by themselves, as seen by Intrepid Potash Inc's plan to idle its largest mine in July.
|
|
"This is Central Asia's biggest potash plant, one can confidently say it will produce 1.5 million tonnes a year," Lukashenko said, adding that Berdymukhamedov had told him about plans to build two more potash plants.
|
|
Indicated 0.33 percent lower The potash and salt miner said it expected its operating profit to more than halve in 2016, citing falling European potash prices, production disruptions and lower demand for de-icing salt.
|
|
As part of the deal, Mosaic will acquire Vale's phosphate assets in Brazil, excluding those in Cubatão; its potash assets in Brazil; the Kronau potash project in Canada; and its shareholding position in Bayóvar, Peru.
|
|
Potash Corporation of Saskatchewan was down 1.9 percent at C$21.40.
|
|
Nutrien may sell Arab Potash in the second quarter, Brownlee said.
|
|
KASSEL, Germany (Reuters) - German potash and salt miner K+S (SDFGn.
|
|
In September, Potash and rival Agrium Inc announced plans to merge.
|
|
Potash Corp of Saskatchewan fell nearly 4 percent to C$22.17.
|
|
Potash Corporation of Saskatchewan Inc rose 1.9 percent to C$22.20.
|
|
Both IPL and ICL declined to comment on any potash contract.
|
|
Rivals Mosaic Co and Agrium Inc also operate potash mines there.
|
|
EuroChem expects potash prices to remain strong into the fourth quarter.
|
|
Where are they going to find room to put the (potash)?
|
|
Stikeman Elliott LLP and Jones Day are legal advisers to Potash.
|
|
India relies on imports to fulfill its entire consumption of potash.
|
|
Potash Corporation of Saskatchewan was down 2.1 percent at C$21.37.
|
|
ICL's decision could pressure other key producers such as Russia's Uralkali and North American trading group Canpotex Ltd, owned by Potash Corp of Saskatchewan , Mosaic Co and Agrium Inc, to consider offering potash at similar prices.
|
|
State-run Indian Potash Ltd, the country's biggest importer, cut retail prices of muriate of potash for farmers by 1,000 rupees ($15) per tonne to boost the consumption, said P.S. Gahlaut, managing director of the company.
|
|
Mosaic will also continue to operate at lower rates in its Canadian potash business, the company said, adding that it expects potash and phosphates shipment volumes for the fourth quarter to be modestly below its forecast.
|
|
"In light of the significant deterioration in the potash business environment and the continued weak outlook for the potash business, (ICL) has adopted a number of additional measures to strengthen its financial position and results," ICL said.
|
|
The $3.2 billion Legacy project will be the first new mine in the potash industry in four decades and undermines efforts by Potash Corp and North American export cartel Canpotex to cut output to shore up prices.
|
|
U.S. prices of potash, urea and phosphate fertilizers sit well below five- and 10-year averages, as do corn and soybean values, Agrium and Potash said in a joint presentation at a Scotiabank investor conference in Toronto.
|
|
K+S's decision could pressure other key producers such as Russia's Uralkali and North American trading group Canpotex Ltd, owned by Potash Corp of Saskatchewan , Mosaic Co and Agrium Inc, to consider offering potash at similar prices.
|
|
EuroChem also intends to convert up to 200,000 tonnes of that potash to sulphate of potash (SOP), a premium product, in 2019, and to 500,000 tonnes of SOP in 2020 or 2021, CFO Andrey Ilyin told Reuters.
|
|
Shohat does not expect potash prices to recover in the coming year.
|
|
A "modest recovery" is ahead this year, said Potash CEO Jochen Tilk.
|
|
The economics of potash can be challenging even for the biggest players.
|
|
In addition, fertilizer companies Potash Corp and Agrium are planning a merger.
|
|
Mineral mining by Israeli and Jordanian potash producers account for further damage.
|
|
It will scrutinize the Potash-Agrium merger if it proceeds, she said.
|
|
Prokhorov also owns stakes in potash producer Uralkali and aluminium producer Rusal.
|
|
The country has deposits of gold, copper, zinc and fertiliser-ingredient potash.
|
|
Trader Brian Kelly is keeping an eye on Potash Corporation of Saskatchewan.
|
|
Potash sales in the quarter rose to $330 million from $302 million.
|
|
The slump has led Potash Corp to seek consolidation and idle capacity.
|
|
Stikeman Elliott and Jones Day provided legal counsel to the Potash Corporation.
|
|
Last week, China agreed to a new potash import contract with Uralkali.
|
|
Salty waste water emerges when potash ore is processed into fertilizer products.
|
|
Wall's government has begun a review of its complex potash royalty system.
|
|
Even then, Mr. Potash said, he figured their cellphone batteries had died.
|
|
Polyhalite is meant to be superior to the traditional fertiliser ingredient potash.
|
|
To offset the subsidy cut, Indian companies also plan to bargain for lower prices in their annual import contracts with international suppliers like Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab Potash and Israel Chemicals.
|
|
Nutrien, formed by the merger of Agrium and Potash Corp of Saskatchewan in January, said its potash volumes rose 17 percent to 3.9 million tonnes at an average realized price of $212 per tonne in the third quarter.
|
|
FRANKFURT (Reuters) - The interim results of a German environmental regulator's probe into waste water discharge by K+S will keep the potash mining company in limbo, with hundreds of thousands of tonnes of potential potash production at risk.
|
|
BHP POTASH: Anglo-Australian mining giant BHP Billiton is considering selling a 25 percent interest in its Canadian potash mine project, a stake that could be worth close to $2 billion, people familiar with the matter told Reuters.
|
|
In September, Potash Corp of Saskatchewan Inc and Agrium agreed to join forces in an all-stock deal that will allow Potash shareholders to own 52 percent of the new company, with the rest going to Agrium shareholders.
|
|
Fraser says it is superior to potash, which is far more widely used, because it contains four vital nutrients, not just one - potassium - and does not leave a damaging residue of chloride, which can result from using potash.
|
|
Falling currency values against the U.S. dollar have lowered production costs 973 percent in Canada, where Mosaic's largest potash mines are located, but the savings amount to 297 percent in Belarus, where potash rival Belaruskali operates, Mosaic said.
|
|
It is unlikely that the latest curtailments will stabilize potash prices, and Potash Corp's decision may not be material if the company is simply advancing its usual summer maintenance period, said BMO analyst Joel Jackson in a note.
|
|
According to their annual reports, ICL produced 3.7 million tonnes of potash at the Dead Sea in 2017 vs 2.1 million tonnes extracted by Arab Potash, which has exclusive rights on the Jordanian side that expire in 2058.
|
|
Nutrien Ltd, the Canadian fertilizer and farm supply dealer created from the merger of Agrium Inc and Potash Corp of Saskatchewan this year, said it expected demand growth for potash in China and India to cool down in 252.0.
|
|
Kobyakov also did not rule out a new potash alliance with Russia's Uralkali.
|
|
Global X's Fertilizers/Potash ETF (SOIL) tracks a global index of fertilizer producers.
|
|
Falling prices of phosphate and potash, however, have dragged down profit this year.
|
|
Fertilizer company Potash Corporation of Saskatchewan Inc rose 3.1 percent to C$22.66.
|
|
Agrium Inc and Potash plan to merge by mid-2017 to cut costs.
|
|
Morgan Stanley is serving as joint financial adviser to Agrium and Potash Corp.
|
|
Stikeman Elliott and Jones Day are serving as legal advisers to Potash Corp.
|
|
It is also considering selling a stake in its Canadian potash mine project.
|
|
ICL, a subsidiary of Israel Corp, is Israel's sixth-largest producer of potash.
|
|
Fertilizer demand for potash looks to grow by 8 percent during the period.
|
|
Potash shareholders will receive 52 percent of the shares in the combined company.
|
|
Potash and Agrium shares traded less than 1 percent higher in afternoon trading.
|
|
Royalties from its potash mines are a key contributor to the provincial budget.
|
|
Fertilizer producer Potash Corporation of Saskatchewan Inc gained 2.8 percent to C$22.17.
|
|
S. In addition, fertilizer companies Potash Corp and Agrium are planning a merger.
|
|
"I was hopeful that they just had a wild night," Mr. Potash said.
|
|
Uralkali is the world's biggest potash producer, while state-controlled Belaruskali ranks second.
|
|
Lukashenko also said Minsk signed a potash supply contract with India on Wednesday.
|
|
Potash Corp is still completing a multiyear expansion of its Rocanville, Saskatchewan, mine.
|
|
Potash will cut its quarterly dividend to 28.8 cents per share from 143 cents.
|
|
"A year out, the fundamentals for the potash market still look murky," he said.
|
|
Nutrien owns 32 percent of Chile's SQM, and about 28 percent of Arab Potash.
|
|
No." Potash Corp of Saskatchewan: "I am a believer in the ag [agriculture] complex.
|
|
K+S's Werra sites mine potash salts and process them into high-quality products.
|
|
Wholesale sales of nitrogen, potash and phosphate were up 4 percent at $675 million.
|
|
Mosaic said potash volumes fell 8.3% to 2.2 million tonnes in the second quarter.
|
|
Its average potash selling price was $182, up nearly 14 percent from last year.
|
|
Potash Corp U.S.-listed shares were up slightly at $17.03 in light premarket trading.
|
|
Fertilizer makers Agrium Inc and Potash Corp both fell sharply after recent strong gains.
|
|
Russia's Uralkali, Belarusian miner Belaruskali and Canada's Potash Corp of Saskatchewan dominate the market.
|
|
The merger would leave Mosaic Co as North America's only other major potash producer.
|
|
ICL is one of three major suppliers of potash to China, India and Europe.
|
|
Onexim owns stakes in aluminium giant Rusal, potash producer Uralkali and power generator Quadra .
|
|
"In our view, industrial potash is a growing market," Wudonig said in an email.
|
|
Breakingviews A potash giant may soon emerge from the ashes of failed global matchmaking.
|
|
Disclosure: Peter Boockvar owns shares of Mosaic and Potash, and buys them for clients.
|
|
BHP has been weighing an entry into potash since prices spiked a decade ago.
|
|
Granular potash sells for an average $331 per tonne in Brazil, as of Aug.
|
|
Agrium shares dropped 1.2 percent and Potash stock eased 0.4 percent in New York.
|
|
Potash Road is found in southeast Utah and contains carvings from many different tribes.
|
|
Separately, finance chief Burkhard Lohr said at the AGM he expected the group's new potash mine in Canada, known as Legacy, to make positive earnings contributions before interest and tax from 2018 on, even though potash prices had fallen below initial projections.
|
|
Both Potash and Agrium do not have a physical presence in India, but supply potash to the country through Canpotex Ltd, which they own with Mosaic Co. The deal is now expected to close in the fourth quarter of 2017, the companies said.
|
|
The merged company could sell Agrium's Canadian potash mine to ease those worries, he said.
|
|
The deal may also catch the attention of regulators in China, a major potash buyer.
|
|
The potash Diesbach used had been contaminated, which altered the chemical makeup of his pigment.
|
|
It said potash sales jumped 11 percent to 2.4 million tonnes in the second quarter.
|
|
Potash said in an interview that, far from helping sales, the embargo will hurt Macmillan.
|
|
"(It) suggests the potash price recovery is in strong force," he said in a note.
|
|
Potash has to sell the stake for regulatory reasons, ahead of a merger with Agrium.
|
|
Last week, Potash Corp reported a bigger-than-expected rise in its first-quarter profit.
|
|
Gahlaut said India had 1 million tonnes of potash inventory despite cutting back on imports.
|
|
"The contract reflects the interests of producers, importers and consumers of potash fertilisers," she added.
|
|
Karen Finerman was a buyer of Alphabet (Google.) Brian Kelly was a buyer of Potash.
|
|
India's potash contract with Israel Chemicals will likely be announced on Monday, the sources said.
|
|
To be sure, potash prices are weak enough to stimulate demand, and are creeping higher.
|
|
Saskatchewan is working on revising its complex potash royalty formula by the end of 13.
|
|
Agrium Inc, with whom Potash Corp plans to merge, fell 2.3 percent to C$139.88.
|
|
The outage was caused by a skip, a device that transports potash to the surface.
|
|
That would value our potash business at least in that $16 to $20 billion range.
|
|
Global potash prices are slowly perking up as plant closures ease oversupply in the industry.
|
|
Agrium Inc, with whom Potash Corp plans to merge, fell 2 percent to C$140.27.
|
|
Tilk also said Potash Corp's board of directors would discuss the company's dividend next week.
|
|
The companies also said they were committed to Canpotex, a cartel for controlling potash prices.
|
|
It is jointly owned by Agrium and Potash, as well as a Mosaic Company subsidiary.
|
|
Fertilizer giant Potash Corp of Saskatchewan last week forecast its bleakest year in a decade.
|
|
It also sells compound fertiliser, a blend of processed phosphates, nitrogen, potash and often sulphur.
|
|
A collapse in the price of kelp, burned to produce potash, forced others to leave.
|
|
Russia supplies 1.5-1.8 million tonnes of fertilisers, mainly potash-based, to India a year.
|
|
The potash could also be trucked 230 km (144 miles) to Eritrea's established Massawa port.
|
|
U.S.-listed shares of Agrium rose 1.9 percent, with those of Potash up 0.8 percent.
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Nutrien lowered its 2019 potash sales volume forecast in July, hurt by the China-U.
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A Rio Colorado potash project will also be included after due diligence, the companies said.
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"Without the confession, we would have wound up leaving a boy missing," Mr. Potash said.
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For Mr. Potash, the father of one of the dead men, there is no question.
|
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The bride, 29, is a litigation associate at the New York law firm Fleischner Potash.
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The financing is being raised for a potash project in Russia's Perm region, RIA reported.
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|
Indian Potash Ltd (IPL), one of that country's biggest fertiliser importers, is buying around 600,4903 tonnes of potash at $227 per tonne on a cost and freight (CFR) basis with a credit period of 180 days, said the industry sources, who declined to be named.
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K+S, which last year rejected a takeover approach from Canada's Potash Corp, the world's biggest potash producer, also suffered an equipment collapse at its new Legacy mine in Canada which will delay the start of production and reduce output during the ramp-up.
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Six years ago, when demand from China was pushing up the price of potash, the Australian mining giant BHP Billiton tried to acquire the Potash Corporation The takeover bid immediately prompted a political backlash among critics, including some traditional advocates of open investment policies.
|
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Canpotex has reached deals with Indian buyers for shipments during the next three months, Potash said.
|
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TORONTO (Reuters) - Chile would not block a foreign takeover of lithium and potash producer SQM (SQMa.
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Agrium fell 3.6 percent at C$116.67 and Potash Corp lost 2.6 percent to C$21.27.
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Goldcorp advanced 3 percent to C$18.82 and Potash Corp rose 1.4 percent to C$24.62.
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Potash said it expects its merger with rival Agrium to close late in the third quarter.
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"Amazon is utilizing its commercial dominance to create a competition with our nation's libraries," Potash said.
|
|
Revenue fell 8 percent to $1.11 billion, despite a 13 percent rise in potash sales volumes.
|
|
The suspension of imports means India will buy less potash this year than it had planned.
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|
Interactivity is the key to pulling people back into reading — especially for younger audiences, Potash says.
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|
Monsanto reported a better than expected quarter, but I am not really a Potash fan frankly.
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Even more potash from Legacy will threaten a modest price recovery seen so far this year.
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Tilk and Magro said they were committed to keep selling potash to offshore markets through Canpotex.
|
|
Government officials in February had said New Delhi could cut the potash subsidies by 17 percent.
|
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Mosaic was hurt as phosphate and potash prices fell, and a plant outage also impacted results.
|
|
Potash Corp declined 0.8 percent to C$23.56 and Agrium slipped 1.3 percent to C$124.69.
|
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Potash had a $14.3 billion market valuation as of Friday's close, while Agrium's was $13.2 billion.
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Potash shares dipped slightly in New York and Toronto on Thursday, while Agrium stock edged higher.
|
|
The resource sector was down 260.47 percent, with Potash Corp down 60.573 percent at C$260.57.
|
|
The Bonneville racing community believes that potash mining is most responsible for the salt flats' degradation.
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|
The shutdowns involve time for maintenance and do not require layoffs, Potash said in a statement.
|
|
KASSEL, Germany, May 11 (Reuters) - German potash miner K+S , which last year fended off a takeover approach by larger rival Potash Corp, is ready to increase its capital to make it easier for a potential anchor investor to take a stake, its chief executive said.
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Steiner said at the time that the bid did not fully take into account the value of its salt business and that of a new Canadian potash mine under construction, which some in the industry view as potentially aggravating oversupply in the North American potash market.
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"Lower global potash demand and market prices require that we curtail production," said Chief Executive Joc O'Rourke.
|
|
A capacity glut and soft crop prices have pushed potash and phosphate prices to multi-year lows.
|
|
According to Potash, the cost to the library is $6.07 every time someone borrows a Macmillan book.
|
|
Potash Corp declined 280.31 percent to C$21.1 and Goldcorp Inc shed 241.93 percent to C$133.483.
|
|
Potash Corp fell 2.7 percent to C$25.35 and Agrium Inc lost 2.3 percent to C$140.64.
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Potash prices are hovering around their lowest levels since 27, amid bloated capacity and weakening farm incomes.
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"EMR will continue to focus on copper, gold, potash and coking coal acquisition opportunities globally," it said.
|
|
Both Agrium and Potash confirmed late Tuesday morning they are in discussions for a merger of equals.
|
|
The surreal colors come from the sulphur, potash, and other minerals that saturate the Dallol hydrothermal field.
|
|
Petropavlovskiy said potash from Turkmenistan might be interesting for spot markets in Southeast Asia and South America.
|
|
Mosaic is the world's largest producer of finished phosphate products and North America's second-biggest potash producer.
|
|
"Belarus agreed to a lower price in a hurry," said an official with a leading potash miner.
|
|
Potash shareholders will own 52 percent of the new company, with a market capitalization of $26 billion.
|
|
Potash Corp's U.S.-listed shares fell 1.1 percent to $16.78, while Agrium shed 2.5 percent to $92.80.
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The others are ChemChina's plan to buy Syngenta AG and Potash Corp's plan to buy Agrium Inc.
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Onexim owns stakes in aluminium giant Rusal, potash firm Uralkali and power generator Quadra , among other firms.
|
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K+S has seen its share price drop to 21 euros, hurt by lower global potash prices.
|
|
Mosaic has yet to decide whether to include Rio Colorado potash project in Argentina in the acquisition.
|
|
Tilk said in October that Potash had received significant interest from potential buyers of the SQM stake.
|
|
Potash Corp rose 1.6 percent to C$22.57, and Agrium Inc advanced 1.1 percent to C$125.1.
|
|
Growing more concerned, Mr. Potash dialed his son's cellphone, but it went straight to his voice mail.
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|
It is a speciality potash that is chloride-free (an advantage, since chlorine tolerance varies across crops).
|
|
The accident on Monday shut operations at the potash mine, which can produce 7,000 tonnes per day.
|
|
Potash Corp declined to comment and GSR Capital and Wealth Minerals were not immediately available to comment.
|
|
Potash Corp has long matched supply to demand, and that practice will continue, spokesman Randy Burton said.
|
|
The saltwater emerges from the production of fertiliser from potash ore that K+S extracts from mines.
|
|
It also raised its forecast for potash sales volumes to between 12.3 million and 12.8 million tonnes.
|
|
The new agreement came after Potash, Kowa and Ponce had agreed that "the interests of SQM and all of its shareholders would be better served going forward with the SQM board of directors operating with as large a consensus base as possible," Potash Corp said in a statement.
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WINNIPEG, Manitoba, May 28 (Reuters) - Canada's Nutrien Ltd , the world's biggest producer of potash fertilizer, said on Tuesday that it was evaluating whether to expand its annual production capacity by 5 million tonnes after 2023, around the time that metals miner BHP Billiton is considering a move into potash.
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|
MUMBAI, July 18 (Reuters) - German potash miner K+S will ship potash to India at the same decade-low price that other sellers to the country have agreed to, three industry sources said on Monday, at a time when global supply of the crop nutrient is exceeding demand.
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Barrick Gold Corp shed 20.3 percent to C$1.893 and Potash Corp fell 21.89 percent to C$1.11.
|
|
The average realized price for potash rose to $174 per tonne from $154 per tonne a year ago.
|
|
"I can't imagine that K+S would not stand for potash and salt in the future," Steiner said.
|
|
CP RAIL LTD EXEC - LOOKING AHEAD, THE FUNDAMENTALS FOR GRAIN AND POTASH AND COAL LOOK GOOD - CONF CALL
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Nutrien, a potash company, was previously banned after the fund expressed concerns over its purchases in Western Sahara.
|
|
"Anything you put into your future home, you can be reading or listening with it," Potash tells Axios.
|
|
Uralkali quit a trading alliance with Belarusian potash producer Belaruskali in 2013, intensifying competition in the global market.
|
|
Teck Resources Ltd advanced 2721.5 percent to C$14.56 and Potash Corp gained 3.5 percent to C$22.47.
|
|
The province forecast average potash prices of $205.10 per tonne in 2016, down sharply from $274.85 last year.
|
|
Potash Corp's stock was 60 Canadian cents firmer at C$23.63 on the Toronto Stock Exchange on Tuesday.
|
|
By then, Locke is expecting potash prices to have rallied and predicts escalating demand based on population trends.
|
|
The disruption will impact second-quarter potash sales volumes, the world's largest producer of finished phosphate products said.
|
|
Potash Corporation of Saskatchewan Inc, the world's largest fertilizer producer, owns around a third of the Jordanian company.
|
|
The U.S. fertilizer company's average potash selling price was $188 per tonne, up from $169 a year ago.
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|
India's potash producers will have to raise prices now, said a senior official with a leading domestic company.
|
|
The drop erased $14 billion in value, and left Potash seeking to merge with rival Agrium Inc AGU.
|
|
Legacy will provide competition for Canada's three existing producers, Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc.
|
|
ICL said it will divide its operations into four: potash; phosphate; industrial products including bromine; and agricultural products.
|
|
India buys potash from global miners in annual contracts that the south Asian country could sign in June.
|
|
Elliott attacked BHP's plans to enter the potash fertilizer market, which is facing over-supply and sluggish prices.
|
|
"This obviously means the risk of nationalisation is somewhat higher," said Humphrey Knight, potash analyst at CRU International.
|
|
IPL declined to comment on any potash contract, while K+S was not immediately available for the comment.
|
|
The announcement published by state-run Turkmenhimiya said the plant would be based at the Karabil potash deposit.
|
|
Eritrea has resources—gold, copper, zinc, and potash—but the majority of the population depends on subsistence farming.
|
|
The combination of Agrium and Potash Corp is expected to close by year-end, and requires U.S. approval.
|
|
Potash is a component of the brine that bubbles up in the spring and thickens the salt layer.
|
|
Mosaic has yet to decide whether to include Vale's Rio Colorado potash project in Argentina in the acquisition.
|
|
Uralkali, along with other potash producers, has been hit by strong competition and low prices for agricultural commodities, but the company said on Monday that it expects total global potash demand to rise by 1-2 million tonnes this year to 62 million to 63 million tonnes, driven by China.
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|
Potash Corp's U.S.-listed shares closed down 3 percent at $19.26, dragging down competitors Agrium and Mosaic Co. Potash Corp forecast earnings of 35 to 55 cents per share in 2017, including merger-related costs of 2013 cents per share, and it also flagged concerns for its nitrogen and phosphate businesses.
|
|
Indian Potash Ltd (IPL), one of the country's biggest fertiliser importers, will buy 125,000 tonnes of potash at $227 per tonne on a cost and freight (CFR) basis with a credit period of 180 days, said the officials, who declined to be named as the contract has not been officially announced.
|
|
"At this point, as the hours pass, it seems more and more grim," Sturgis' father, Mark Potash, told Philly.com.
|
|
Potash and Agrium confirmed merger talks on Tuesday, a deal that would create a fertilizer and farm-retailing giant.
|
|
Senior House alum Michael Potash (at the wheel) and peers during a Steer Roast celebration in the early '70s.
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|
CANADIAN PACIFIC RAILWAY LTD - EXPECTS POTASH TO CONTINUE TO BE A POSITIVE VOLUME DRIVER IN 2019 - EXEC, CONF CALL
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BHP aims to start potash production at Jansen, Saskatchewan in 2023 and plans to produce 4 million tonnes annually.
|
|
Lower potash prices and carry-over stocks could lead to higher demand for Chinese imports this year, Uralkali said.
|
|
First Quantum Minerals Ltd fell 2.4 percent to C$14.85 and Potash Corp shed 2.2 percent to C$23.92.
|
|
Even so, the gloom around the potash glut overshadows its product, called polyhalite, Chief Executive Officer Chris Fraser said.
|
|
The Potash-Agrium deal, worth $36 billion with $20.6 billion in revenue, went to bigger Wall Street institutions instead.
|
|
Under the previous contract, India was buying potash at $332 a tonne on a cost and freight basis (CFR).
|
|
India imported around 3 million tonnes of potash in the 2015/16 fiscal year that ended on March 31.
|
|
Agrium, which is merging with Potash Corp of Saskatchewan , said revenue fell marginally to $2.72 billion from $2.73 billion.
|
|
K+S' success in distributing potash has big market implications, given there is already a glut of global capacity.
|
|
Potash Corp and SQM, one of the world's biggest lithium producers, did not immediately respond to request for comment.
|
|
Among those who left are gold miners Polyus Gold and Nordgold, potash producer Uralkali and Eurasia Drilling oil company.
|
|
Potash said on Tuesday it would shut its newest mine, Picadilly, in New Brunswick, due to weak market conditions.
|
|
Analysts said the eventual successor will struggle to revive earnings given weak global prices for potash, its main export.
|
|
Agrium and Potash confirmed they were talking about merging, the latest sign of consolidation in the agricultural-chemicals industry.
|
|
The potash asset is expected to attract interest from global players, including Indian and Chinese firms, the people said.
|
|
Potash and phosphate prices touched multi-year lows last year due to a capacity glut and soft crop prices.
|
|
Some farm groups have raised concerns about the effect of a merger of Agrium and Potash on fertilizer prices.
|
|
The fertilizer producer's revenue beat forecasts, though sales of phosphates and potash fell due to transportation delays in Canada.
|
|
The province had said any changes would be revenue-neutral to its treasury, but Potash Corp of Saskatchewan POT.
|
|
BHP reports annual results on Tuesday, and investors will look for any improved sentiment toward potash, given rising prices.
|
|
The police also recovered Mr. Sturgis's car, a 2004 Nissan Altima, at an outdoor shopping mall, Mr. Potash said.
|
|
In recent years, Intrepid Potash has been returning 0.6 million tons or less of salt brine to Bonneville's surface.
|
|
Here, magma heats groundwater, which wells up and dissolves salt, potash and other minerals when emerging through hot springs.
|
|
Agrium and the Potash Corporation of Saskatchewan announced their all-stock merger on Monday after weeks of speculation. nyti.
|
|
Indian Potash Ltd (IPL), one of the country's biggest fertiliser importers, will buy around 600,000 tonnes of potash at $227 per tonne on a cost and freight (CFR) basis with a credit period of 180 days, said the officials, who declined to be named as the contract has not been officially announced.
|
|
Potash Corp spokesman Randy Burton said it would be inappropriate to speculate on divestitures or any other conditions and terms.
|
|
Revenue grew to $703 billion from $1.3 billion, driven primarily by an increase of $28 per tonne in potash prices.
|
|
Both China and India, the world's biggest fertiliser consumers, usually sign their contracts for potash purchases earlier in the year.
|
|
While Agrium said the potash mine, which can generate 7,000 tonnes per day, has reopened, Kruger said production remains shut.
|
|
Potash prices have rebounded modestly since last year but remain low due to bloated global capacity and weakening farm incomes.
|
|
Major suppliers to India include Uralkali, Potash Corp of Saskatchewan, Agrium Inc, Mosaic, K+S, Arab PotashCo and Israel Chemicals.
|
|
Contracts signed by India and China typically become benchmarks for other potash buyers in Asia, such as Malaysia and Indonesia.
|
|
India's deal is a rare instance of the country signing a potash supply contract with a major producer before China.
|
|
Agrium shares ended the day up 7 percent, while shares of Potash climbed more than 10 percent on the day.
|
|
Potash prices collapsed two years ago but have begun to recover after the crash led to mine closures, limiting supply.
|
|
Shares have been suspended since October when Emmerson became 100 percent owner of the Khemisset Potash Project in northern Morocco.
|
|
It was unclear when the new plant would reach production capacity and how much potash it would produce in 2017.
|
|
But the outlook was positive "with all long term indicators pointing to rising demand for potash," the company's chairman said.
|
|
India has nearly 1 million tonnes of carry-forward stocks of potash as last year's drought trimmed consumption, Gahlaut said.
|
|
Fertilizer maker, Potash Corp rose 1.7 percent to C$24.825, while Agrium Inc also advanced 1.7 percent to C$523.
|
|
Legacy will also answer a longer-term supply issue K+S faces, as potash at its other mines is depleted.
|
|
Fertilizer prices have rebounded in the past year, but rapid expansion of phosphate and potash production capacity has limited gains.
|
|
For Potash shareholders, the deal offers an attractive chance to diversify with Agrium's farm retail network, the advisory company said.
|
|
Both Potash Corp and Agrium Inc slipped after two days of gains tied to their announcement of talks to merge.
|
|
Gains for the materials group were led by a 236.45 percent advance in shares of Potash Corporation of Saskatchewan Inc.
|
|
Agrium's total sales rose 9.5 percent to $2.45 billion, while Potash Corp's sales were up 2 percent at $1.08 billion.
|
|
The companies, Agrium and the Potash Corporation of Saskatchewan, announced their all-stock merger on Monday after weeks of speculation.
|
|
Potash said the average price for its commodity during the second quarter of this year was $154 a metric ton.
|
|
Aluminum and potash are also on the draft list of 35 critical materials used in basic manufacturing, batteries and electronics.
|
|
Fertilizer company Potash Corp of Saskatchewan gained 2.4 percent to C$23.21 after beating profit expectations and upping its outlook.
|
|
Some Agrium investors are concerned the tie-up would leave them with greater exposure to the slumping crop nutrient potash.
|
|
In potash, production cuts that began in the second half of 2019 are bringing the market into balance in 2020.
|
|
Agrium did not specify what concerns U.S. regulators have, but Potash is already one of the biggest U.S. phosphate producers.
|
|
Bonneville proponents have long argued that the salt should be returned to the racecourse once the potash has been extracted.
|
|
Potash shipments look slightly lower this year at 58 million to 93 million tonnes, down from 60.7 million in 2015.
|
|
When Borgas took the reins after serving as CEO of Swiss firm Lonza, ICL - one of three major suppliers of potash to China, India and Europe - was in good shape with a share price of 23 shekels and adjusted earnings per share of $1.19 in 2011, when potash prices were around $414 per tonne.
|
|
TO, is still negotiating a second-half supply contract with Chinese buyers, Potash said, unlike some rivals who have struck agreements.
|
|
Last week, in Canada, Potash Corporation of Saskatchewan and Agrium joined forces to create a fertilizer giant amid slumping fertilizer prices.
|
|
Phosphates sales volumes fell 4.3% to 2.323 million tonnes in the second quarter, while potash fell 8.3% to 2.2 million tonnes.
|
|
Potash prices have rebounded modestly since last year but remain low, under pressure from bloated global capacity and soft crop prices.
|
|
But Steve Potash, founder and CEO of library ebook and audiobook supplier OverDrive, said he's not sure there's a legislative fix.
|
|
The port is a key gateway to Asia for Canadian goods, moving large volumes of coal, grain, potash and forest products.
|
|
The port is a major gateway to Asia for Canadian goods, moving large volumes of coal, grain, potash and forest products.
|
|
N, the world's biggest farm retailer, reported a smaller-than-expected loss on Monday, helped by higher selling prices for potash.
|
|
Occasionally, Burtynsky's camera ducks underground to take viewers into the dark labyrinths of Russia's potash mines and Nevada's nuclear waste repositories.
|
|
Potash Corp gained 263.60 percent to C$20.4, while copper producer First Quantum Minerals Ltd jumped 2500 percent to C$39.303.
|
|
The drive to build new mines began when potash prices were higher, but last year prices slid to nine-year lows.
|
|
Total carloads, rail cars carrying freight during a specified period, rose 6% to 716,800, with the biggest gains coming from potash.
|
|
In one of his few photographs taken on the ground, Burtynsky captured the inside of a potash mine in Berezniki, Russia.
|
|
Global potash producers are still suffering from strong competition, low prices for agricultural commodities and weak demand from India and China.
|
|
Potash sales for the company rose 11.2 percent to 2.4 million tonnes at an average realized price of $174 per tonne.
|
|
Forbes magazine estimates Rybolovlev's fortune at $4503 billion, mostly derived from the sale of Russian potash producer Uralkali in 2010-2011.
|
|
It is also considering offloading a stake in its Canadian potash project, an underdevelopment mine that has been criticized by Elliott.
|
|
The company sees potash sales volumes in the range of 1.7 million tonnes to 2 million tonnes for the first quarter.
|
|
Saskatchewan is considering whether to end a review of its potash royalty system, the economy minister of the Canadian province said.
|
|
Nutrien had reported a loss of $53 million a year earlier, based on the combined results of Potash Corp and Agrium.
|
|
Canadian fertilizer and farm supply dealer Nutrien had begun talking to prospective buyers of its stake in Arab Potash in February.
|
|
Earlier today, Agrium said it had received approval from Chinese regulatory authorities regarding its merger with Potash Corp of Saskatchewan POT.
|
|
The world has changed considerably since Canada vetoed BHP's hostile attempt to acquire Potash, arguing it was against the national interest.
|
|
After the deal closes, Potash shareholders will own 52 percent of the new company, while Agrium's investors will own 48 percent.
|
|
The stocks of both companies declined on Monday, with Agrium about 3 percent lower, and Potash slipping more than 1.5 percent.
|
|
Its legally registered head office will be in Saskatoon, Saskatchewan, where Potash is based, with corporate offices in Calgary as well.
|
|
Potash Corp and Agrium agreed to merge last September to navigate a severe industry slump by boosting efficiency and cutting costs.
|
|
EMR raised $860 million a year ago as part of its strategy to invest in copper, gold, potash and coking coal.
|
|
"You can't expect higher profit when potash prices are $200 a tonne," said Ilanit Scherf, an analyst at the Psagot brokerage.
|
|
In recent months, ICL has signed potash supply deals with China and Indian customers at $219 and $227 a tonne, respectively.
|
|
Nutrien Ltd said it was preparing to shut down its largest potash mine, at Rocanville, Saskatchewan, for two weeks effective Dec.
|
|
India's deal would be a rare instance of that country signing a potash supply contract with a major producer before China.
|
|
Nutrien Ltd said on Monday it was preparing to shut down its largest potash mine, Rocanville, for two weeks effective Dec.
|
|
The dry lake bed is composed of minerals — including gypsum, potassium chloride (potash) and an abundance of sodium chloride (table salt).
|
|
Sales of potash and phosphate for industrial or animal feed make up a small percentage of some producers' revenue, but margins are bigger than for fertilizer, said Andy Jung, director of market and strategic analyst at Mosaic Co. Potash applications for drilling muds are likely to see robust growth as oil and gas prices improve, Jung said.
|
|
Potash cut its full-year profit forecast to a range of 40 to 4173 cents per share, from 60 to 80 cents.
|
|
Under the Canadian review, Potash and Agrium could argue their merger would enable the Canadian company to be a stronger global player.
|
|
The infected trays were sold at Kwik Trip, Kwik Star, Demond's, Sentry, Potash, Meehan's, Country Market, FoodMax and Peapod, the agency said.
|
|
The deal, if reached, would be a rare instance of India signing a potash supply contract with a major producer before China.
|
|
Intel is shifting production to a new chip plant in Israel, while falling demand and prices for potash have weighed on ICL.
|
|
Potash has nearly finished expanding its low-cost Rocanville, Saskatchewan, mine, which it says will help it weather weak crop nutrient prices.
|
|
Fertilizer company Potash Corp declined 1.6 percent to C$24.43, while diversified miner Teck Resources Ltd lost 2.6 percent to C$27.84.
|
|
"Demand is weak due to the drought," said P.S. Gahlaut, managing director of state-run Indian Potash Ltd, the country's biggest importer.
|
|
India usually opens negotiations for potash imports in February, with new contracts signed before the start of the fiscal year in April.
|
|
Potash prices have plunged over the past year due to overcapacity and weak currencies in major consumers such as India and Brazil.
|
|
However, the company said it expects higher realized prices for potash and phosphate in the second quarter and earnings to improve "meaningfully".
|
|
Agrium's retail stores are already stocked mostly with its own fertilizer, leaving little room for additional supplies from Potash Corp, he added.
|
|
Potash miner K+S was a bright spot, jumping more than 4 percent after a report of interest from hedge fund Elliott.
|
|
Annual cost savings would come from areas including distribution and retail integration, production and procurement but not from shutting any potash mines.
|
|
Financial advisers include Barclays Capital Inc and CIBC Capital Markets for Agrium, and BofA Merrill Lynch and RBC Capital Markets for Potash.
|
|
But in recent months, ICL has signed potash supply deals with China and Indian customers at $219 and $227 a tonne, respectively.
|
|
And leadership will be evenly split, with the Potash boss Jochen Tilk becoming executive chairman and Chuck Magro of Agrium chief executive.
|
|
Potash last year offered nearly $9 billion for the producer K&S, only to withdraw its offer after the German group demurred.
|
|
Potash Corp tightened its full-year adjusted earnings to 48 cents to 54 cents per share from 45 cents to 65 cents.
|
|
Canadian fertilizer and farm supply dealer Nutrien Ltd was already talking to prospective buyers of its stakes in Arab Potash in February.
|
|
Meanwhile, potash miner K+S sank over 5 percent, after its operating profit and third quarter revenue failed to meet market expectations.
|
|
BERLIN (Reuters) - Severe drought is hampering potash production at K+S's Werra mine network in central Germany, the company said on Monday.
|
|
Mosaic will acquire the rest of Vale's phosphate assets in Brazil, Vale's stake in Peru's Bayóvar mine and Canada's Kronau potash project.
|
|
Mosaic and Potash, among others, convert bright-yellow sulfur into sulphuric acid to make diammonium phosphate (DAP), a widely used phosphorus fertilizer.
|
|
Mosaic and Potash are paying $110 per ton for sulfur this quarter, up $36 from last quarter, BMO analyst Joel Jackson said.
|
|
Karnalyte plans to produce 625,000 tonnes of potash per year at Wynyard, Saskatchewan in phase 1 of a 2.125 million tonne project.
|
|
As a potash exporter, Turkmenistan will compete with its former Soviet overlord Russia, home to the world's biggest producer Uralkali, and Belarus.
|
|
K+S has slashed production this year in response to weak demand for potash, following the lead of rivals such as Nutrien .
|
|
Later on Saturday, Mr. Potash said, he called Mr. Meo's parents, leading to a chain of calls among friends and family members.
|
|
In North America, the merged company would control two-thirds of potash capacity and nearly one-third of phosphate and nitrogen capacity.
|
|
Fertilizer company Potash Corp declined 1.1 percent to C$7003, while diversified miner Teck Resources Ltd lost 1.6 percent to C$28.13.
|
|
ICL, controlled by holding company Israel Corp, produces about a third of the world's bromine and is the sixth-largest potash producer.
|
|
The changes come after potash prices fell to decade lows this year due to excessive global capacity, although they have recently improved.
|
|
The world's largest producer of finished phosphate products on Thursday forecast lower selling prices for potash and phosphate in the current quarter.
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In addition to Vale's phosphate assets in Brazil, Mosaic will acquire Vale's stake in Peru's Bayóvar mine and Canada's Kronau potash project.
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It is the world's sixth-largest producer of potash and supplies about a third of the world's bromine, used in fire retardants.
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Potash and Agrium have significant operations in the United States, which would spur review by the Federal Trade Commission or the Justice Department.
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Several loans for the potash group Uralkali have fallen including a US$20.7m 299 revolving credit facility which was 20125% lower at 22023%.
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Diesbach hypothesized that he could combine the carmine extract with alum, iron sulfate, and potash to make the pale red hue he desired.
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I remember plunging into the cold water of Potash Cove on Lake Thompson and swimming through the still waters, communing with the fowl.
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BHP said it would make a final investment decision on its long-delayed $17 billion Jansen potash project in Canada around February 141.863.
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India's imports of potash could rise if the suppliers reduce prices as the monsoon is forecast to deliver surplus rainfall, the official said.
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India buys potash from global miners in annual contracts that the south Asian country usually signs before the start of the fiscal year.
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"We see little support for a bullish or even neutral view on potash," said Scotiabank analyst Ben Isaacson, in a May 9 note.
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BHP said it would make a final investment decision on its long-delayed $17 billion Jansen potash project in Canada around February 175.713.
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Rashtriya Chemicals and Fertilizers Ltd (RCF), IFFCO and Chambal Fertilisers and Chemicals, and Tata Chemicals are among the key potash buyers in India.
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Delek Drilling also said in a statement that exports from Tamar to Jordan's Arab Potash Co and Jordan Bromine plants began in January.
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MM) is not planning to sell its potash assets in Canada or a stake in Poland's biggest chemicals group, state-run Azoty (ATTP.
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K+S said the average price of its potash products edged up by 1.6 percent to 250 euros per ton during the quarter.
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Contracts signed by India and China are considered international benchmarks, and are closely watched by other potash buyers such as Malaysia and Indonesia.
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Considering a stake sale comes as Potash Corp moves to merge with fellow fertilizer company Agrium Inc, La Tercera reported, without naming sources.
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ICL, one of the three largest suppliers of the crop nutrient potash to China, India and Europe, is a subsidiary of Israel Corp.
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ICL competes with Russia's Uralkali and North American trading group Canpotex Ltd, owned by Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc.
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The agreement signed between SDIC and Nutrien will further reduce China's reliance on potash imports and guarantee its food security, the statement said.
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Potash sales, which account for 27% of the group total, rose to $432 million in the quarter from $346 million a year earlier.
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The Potash Corporation of Saskatchewan and Agrium, a fertilizer company, have agreed to a merger of equals worth $36 billion in enterprise value.
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"We see significant interest in general (for the SQM stake), which is based on the interest in lithium," Potash CEO Jochen Tilk AGU.
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The name of the combined Agrium and Potash Corporation, which will have about 20,000 employees, is to be determined before the deal closes.
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The industry sources caution however, that higher contract prices could dent demand, along with the Indian government's decision to reduce domestic potash subsidies.
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The agreement signed between SDIC and Nutrien, will further reduce China's reliance on potash imports and guarantee its food security, the statement said.
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Contracts signed by India and China are considered benchmarks globally, and are closely watched by other potash buyers such as Malaysia and Indonesia.
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ICL competes with Russia's Uralkali and North American trading group Canpotex Ltd, owned by Potash Corp of Saskatchewan, Mosaic Co and Agrium Inc .
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Canada also relies on CN and Canadian Pacific Railway to move crops, potash, coal and manufactured goods to ports and the United States.
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It sold to a trust linked to the eldest daughter of Dmitry Rybolovlev, a Russian billionaire who made his fortune in potash fertilizer.
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Potassium alum, or potash, a mineral found in the mountains around Oaxaca, is used as a mordant, holding the dye to the yarn.
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In North America, the new company will control about two-thirds of potash capacity and nearly one-third of phosphate and nitrogen capacity.
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Pampa Calichera in turn owns about 23 percent of SQM, a major producer of lithium and an important supplier of iodine and potash.
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An early 1990s champagne-colored Nissan Maxima, which belonged to Mr. Meo, was there, according to Mark Potash, the father of Mr. Sturgis.
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Earlier on Tuesday, China's commerce ministry said it has approved the merger on the condition that Potash divest certain stakes in other companies.
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Its ample forests provided wood for fires to heat a mix of sand, silica, potash and soda; add lead and you have crystal.
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Potash Corp of Saskatchewan and Mosaic Co gained 6 percent in New York, while Germany's K&S AG added 5 percent in Frankfurt.
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Belaruskali's Belarussian Potash Co trading arm later said, however, that it was still finalizing the deal, which it expects to sign this month.
|
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Canada's Potash Corp and Japan's Mitsubishi were also in the running to buy the stake, an industry source familiar with the deal said.
|
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The company pointed to assets including its new potash mine in Bethune, Canada, saying it was worth nearly 5 billion euros ($5.5 billion).
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Solar evaporation is less energy intensive and the climate allows mountains of potash to be stored outside and sold when prices are high.
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Demand, however, remains strong and it is possible that new supplies will push out higher-cost producers, said Gertjan van der Geer, a senior investment manager at Pictet Asset Management, which manages shares of potash majors Potash Corp of Saskatchewan and Mosaic Co. "It's a concern, but I'm also not sure if it's going to get worse from here," he said.
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Uralkali's previous contract with India was signed in May 2015 for twelve months and set potash supplies at 800,000 tonnes at $332 per tonne.
|
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ICL is cutting operating costs in Spain, and plans to convert its United Kingdom facility to a specialty form of potash within two years.
|
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Canadian fertilizer maker Agrium Inc, reported quarterly profit and revenue on Wednesday that edged past analysts' estimates, helped by higher selling prices for potash.
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Mosaic — The largest U.S. producer of potash and phosphate fertilizer climbed more than 4% after Bank of America upgraded it to buy from neutral.
|
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Potash sales will range from 1.9 million to 2.2 million tonnes for the fourth quarter, compared to 2 million tonnes last year, it said.
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Germany's K+S AG will ramp up production at its Western Canada mine this year, while EuroChem begins mining potash in Russia next year.
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Barclays Capital and CIBC Capital Markets advised Agrium, while Bank of America Merrill Lynch and RBC Capital Markets worked for Potash on the merger.
|
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Although global prices have been falling, a reduction in government support in India would make potash relatively expensive for the companies that import it.
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The brine then evaporates from the lakes, leaving behind mineral salts like sodium chloride (rock salt), potassium (potash), bromine, halite, gypsum, and magnesium chloride.
|
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The agreement, announced late on Monday, was sent to Chile's securities regulator and signed by Potash Corp, Ponce-controlled Pampa Calichera, and Japan's Kowa.
|
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The potash industry is under pressure as price weakness is compounded by new mines coming online by miners including K+S AG and EuroChem.
|
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Agrium, which agreed to merge with Potash Corp of Saskatchewan Inc in September, said total sales fell by about 11 percent to $2.25 billion.
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But ambitious ones like BHP's Jansen potash mine in Canada need to be tackled with partners - hence efforts to sell a $2 billion stake.
|
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The company's lithium process, which relies heavily on evaporation ponds, was designed to extract potash fertilizer from salts, with lithium only as a byproduct.
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Since India relies entirely on imports for potash, Indian fertilizer companies looking to sidestep price volatility could look to take advantage of attractive valuations.
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Although the potash market is oversupplied, Fraser said there was a long-term need for fertilizer as a growing global population must be fed.
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Saskatchewan is home to some of the world's biggest potash and uranium reserves, which are mined by companies including Nutrien Ltd and Cameco Corp.
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The merger combines Potash Corp's fertilizer production capacity, the world's largest, with Agrium's network of farm supply stores, the biggest in the United States.
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Even so, the company is not contemplating an exit from Canpotex Ltd, the offshore marketing company it owns with Potash Corp of Saskatchewan POT.
|
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Previously, Ilyin said that Eurochem was ready to enter the potash market either independently or as part of a trade alliance with other players.
|
|
It had previously forecast 2019 EBITDA of 730-830 million euros, targeting the sale of 6.9-7.1 million tonnes of potash for the year.
|
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Fertilizer company Potash Corp of Saskatchewan advanced 2.7 percent to C$23.27 after reporting a beating profit expectations and upping its full-year outlook.
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Shares in the company, which fended off a 41 euro-per-share takeover approach from Potash Corp in 2015, have fallen to around 22.8 euros.
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But Citi analyst P.J. Juvekar said it was too early to envision a major recovery as rivals bring on new potash mines through next year.
|
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India's move to halt its potash imports underscores the country's changing position in global commodities markets because of a deepening crisis in its farm sector.
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"Softening of the key markets, along with a severe export potash price decline resulted in a weaker performance in 2016," Uralkali said in a statement.
|
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Uralkali forecast China would buy between 14.8 million and 15 million tonnes of potash this year while India would purchase 3.9 million–4.2 million tonnes.
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Potash Corp's fourth-quarter earnings plunged to $59 million, or 7 cents per share, from $201 million or 24 cents per share a year earlier.
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Barclays Capital and CIBC Capital Markets are Agrium's financial advisers, while Band of America/Merrill Lynch and RBC Capital Markets are Potash Corp's financial advisers.
|
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Contracts signed by India and China are considered benchmarks in Asia, and are closely watched by other potash buyers such as in Malaysia and Indonesia.
|
|
However, India halted potash imports in February this year and delayed negotiations after successive droughts dented demand in one of the world's biggest fertiliser consumers.
|
|
The rapidly growing Chinese economy — and its seemingly insatiable appetite for commodities — helped increase the price of oil, potash, nickel and the other Canadian resources.
|
|
The company said it would permanently close its idled potash mine in the Canadian province of New Brunswick and take a $1.8 billion impairment charge.
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Like many small towns across Canada, hockey is stitched into the identity of Humboldt, a farming and potash mining hub 87 miles northeast of Saskatoon.
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The company also said first-quarter earnings were hurt by an outage at its Esterhazy K1.93 potash mine in Saskatchewan and at an ammonia plant.
|
|
Potash prices were then around $23 per tonne, ICL's share price was 46 shekels and it reported adjusted earnings per share of $1.19 in 2011.
|
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Two major fertilizer producers gained, with Potash Corp of Saskatchewan up 1.3 percent at C$250.27 and Agrium Inc adding 20.4 percent to C$2105.78.
|
|
BHP is working with an investment bank for the potential stake sale in its partly built Jansen, Saskatchewan potash project, the sources said this week.
|
|
Nutrien said its potash volumes rose 17 percent to 3.9 million tonnes at an average realised price of $212 per tonne in the third quarter.
|
|
K+S said that in its potash and magnesium business, revenues rose by 18 percent, with 7.8 percentage points of that coming from price increases.
|
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But German potash and salt miner K+S fell 5.5 percent after it said it expected its operating profit to more than halve in 2016.
|
|
After talks collapsed in October last year, Corfo announced in December that representatives of SQM and Potash had met with Chilean authorities to reopen negotiations.
|
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Mr. Magro will become chief executive of the combined company, while Jochen Tilk, the president and chief executive of Potash, will become its executive chairman.
|
|
Saskatchewan may have seen no growth, at best, in 250, economists said, and given the latest potash news, this year is not looking much better.
|
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Fertilizer company Potash Corp of Saskatchewan Inc declined 0.9 percent to C$22.11, and diversified miner Teck Resources Ltd fell 5.63 percent to C$29.40.
|
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Last year, CEO Steiner fended off a 41-euro-per share takeover approach from larger Canadian rival Potash Corp , which withdrew its proposal in October.
|
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The western province, which depends heavily on oil, gas and potash revenues, said it would spend C$14.15 billion ($9.68 billion), an increase of 3.1%.
|
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Potash Corp fell 1.8 percent to C$23.33 after two days of gains tied to the announcement of merger talks between it and Agrium Inc.
|
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The materials group, which includes precious and base metals miners and fertilizer companies, added 1.2 percent, with Potash Corp gaining 1.9 percent to C$21.12.
|
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Union president Darrin Kruger said the incident happened on Sunday, and production at the potash mine, which can generate 7,000 tonnes per day, remains shut.
|
|
"We believe the uncertainty that weighed on potash market sentiment is now lifting and a recovery is beginning," Chief Executive Jochen Tilk said in a statement.
|
|
Potash Corp and fellow Canadian fertilizer producer Agrium Inc agreed to combine in September to navigate a severe industry slump by boosting efficiency and cutting costs.
|
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Potash Corp was rebuffed before by political opposition to a foreign takeover when it attempted in 2013to gain majority control of ICL Israel Chemicals Ltd (ICL.TA).
|
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Nutrien, which produces and distributes 203 million tonnes of potash, nitrogen and phosphate products worldwide, has been focusing on growing its retail base through small acquisitions.
|
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ICL is the world's sixth-largest producer of potash, a key ingredient in fertilizers, with exclusive rights in Israel to extract minerals from the Dead Sea.
|
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In late June, Belarus agreed to supply 700,000 tonnes of potash at the same rate to India, one of the world's top buyers of the material.
|
|
Andrey Ilyin, chief financial officer of EuroChem, said the company is still planning on adding to global capacity by building two Russian potash mines by 2018.
|
|
Potash said it expected full-year earnings of 45 cents to 65 cents per share, up from its prior forecast of 35 cents to 133 cents.
|
|
BERLIN (Reuters) - German potash miner K+S said on Thursday earnings this year may fall short of analyst expectations, though still significantly beat its 2017 result.
|
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Government and industry officials say India's potash imports are unlikely next year to regain levels of over 4 million tonnes seen in the past few years.
|
|
The company also lowered its 21.58 potash sales volume forecast to 21.60 million tonnes to 13.0 million tonnes from 13.0 million tonnes to 13.4 million tonnes.
|
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An Indian fertiliser company official, who was not authorized to speak publicly, said lower prices and favourable rainfall for crops could boost potash consumption this year.
|
|
At one point Mr Macfarlane combines these enterprises, rattling in a truck for miles through the tunnels of a giant potash mine under the North Sea.
|
|
Agrium is North America's biggest retail seller of seed, fertilizer and chemicals directly to farmers and is also a producer of nitrogen, potash and phosphate fertilizer.
|
|
If India were to import 2700 million tonnes of potash in 22016-217, the savings from the proposed subsidy cut would equate to almost $100 million.
|
|
Rising magma heats the area's groundwater, which wells up—dissolving salt, potash and other minerals from the rocks it travels through—to emerge as hot springs.
|
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Potash miner K+S was the STOXX 600's worst performer, with shares sinking 5.6 percent after it warned that earnings could fall sharply in 2016.
|
|
As a potash exporter, Turkmenistan will compete with its former Soviet overlord Russia, home to the world's biggest producer Uralkali, and Belarus, also a global player.
|
|
New potash production capacity is expected to be launched by Germany's K+S in Canada and by Russia-focused fertilizer producer Eurochem in Russia in 2017.
|
|
It had revenue of $4 billion over the first nine months of 2016, although its profits have suffered due to a sharp decline in potash prices.
|
|
Danakali had already signed memorandums of understanding for offtake agreements with potential buyers for a little more than 800,000 tonnes of sulphate of potash, Donaldson said.
|
|
India's potash import requirements are likely to fall in the 2017/18 fiscal year due to a significant stocks carried forward from last year, Awasthi said.
|
|
The company said on Monday it recorded a $1.8 billion non-cash impairment charge due to closure of its Brunswick potash facility, following a strategic review.
|
|
It's "a fascinating development considering the impact the Legacy greenfield may have on the already oversupplied potash industry," said BMO analyst Joel Jackson, in a note.
|
|
CP, Canada's second-largest railroad, reported a better-than-expected profit for the third quarter in October on higher shipments of crude oil, coal and potash.
|
|
N was formed through the merger of Dow Chemical and DuPont, and separately Potash Corp of Saskatchewan Inc combined with Agrium Inc to form Nutrien (NTR.TO).
|
|
Sales of ICL Israel Chemicals Ltd's industrial products, including flame retardants, rose 4 percent in the third quarter from a year earlier, while potash sales declined.
|
|
It fetched an average price of 279.1 euros per tonne of potash sold in Europe in the second quarter, down 11 percent from a year earlier.
|
|
In its salt business, K+S now expects EBITDA to decline moderately this year, while it is targeting higher earnings in its potash and magnesium business.
|
|
Sagging U.S. farmer incomes and soft fertilizer prices have pressured crop nutrient producers, even as new capacity for nitrogen and potash comes on stream this year.
|
|
Agrium's financial advisers in the deal included Barclays and CIBC Capital Markets, while Bank of America Merrill Lynch and RBC Capital Markets advised the Potash Corporation.
|
|
The commission's comments are of little consequence to the Potash-Agrium merger because the companies do not own assets in India, said Bernstein analyst Jonas Oxgaard.
|
|
Tianqi struck a deal earlier this year to buy the stake from Nutrien, the company formed by the merger of Agrium and Potash Corp of Saskatchewan.
|
|
EMR raised $860 million last year to invest in copper, gold, potash and coking coal projects and has since bought a copper project in West Australia.
|
|
It is home to 45 percent of the global reserves of potash, a mineral used to fertilize crops, and its plains grow more wheat than Argentina.
|
|
Due to weak global demand, fertilizer miner Mosaic Co has idled production at its Colonsay, Saskatchewan potash mine in western Canada for the rest of 2016.
|
|
Some Agrium investors said at the time they were uneasy about the deal because it would give them greater exposure to the slumping crop nutrient potash.
|
|
ICL is the world's sixth-largest producer of potash, a key ingredient in fertilizers, with exclusive rights in Israel to extract minerals from the Dead Sea.
|
|
Salt and potash supplier K+S lost 11% of quarterly revenue from lost production as last year's German drought prevented it from shipping out its wastewater.
|
|
In 2015, Uralkali was the first major producer to sign a one-year contract with India to supply 800,000 tonnes of potash at $332 per tonne.
|
|
The Calgary-based company said revenue from grains jumped 1.753 percent to C$372 million in the reported quarter, while revenue from potash rose 6.4 percent.
|
|
Also in Saskatchewan, Potash will curtail production for six weeks at its Lanigan mine starting in January and for 12 weeks at Allan starting in February.
|
|
Global potash sales look to reach a record 65 million to 67 million tonnes in 2018, led by strong demand in Latin America, the company said.
|
|
OCP will ship its own phosphoric acid to the plant, while potash will be transported from large reserves in the Horn of Africa country's northeast, he said.
|
|
Potash Corporation of Saskatchewan Inc was in September reported to have hired Goldman Sachs and BofA Merrill Lynch to explore selling its 32 percent stake in SQM.
|
|
Nutrien is selling minority stakes in those companies as part of pledges to regulators who approved the merger of Agrium and Potash Corp of Saskatchewan this year.
|
|
In 2013, Uralkali left a trading joint venture with the Belarusian Potash Company, triggering a fall in global prices of the crop nutrient and hitting Minsk's revenues.
|
|
Spot prices of potash, a crop nutrient, are at 8-year lows of around $230 a tonne, down by more than a quarter from a year ago.
|
|
Weak demand and increasing competition pressured potash prices in North America while a lack of new contracts in China and India limited global deliveries, the company said.
|
|
Potash Corp shareholders will own about 52 percent of the new company, with Agrium shareholders owning the rest after the deal closes, which is in mid-2017.
|
|
Potash Corp, which had more than 5,000 employees worldwide at the end of 2014, said the suspension would lead to 420-430 job cuts in New Brunswick.
|
|
Potash Corp said it expected to recognize severance and transition costs of about $35 million in the first quarter as a result of suspending operations at Picadilly.
|
|
Nutrien reported late on Monday a bigger-than-expected quarterly profit and raised its full-year adjusted profit forecast, driven by strong demand for its potash fertilizer.
|
|
Nutrien has emerged from the merger of Potash and Agrium, and ADM renewed its bid for Bunge, likely to also attract Glencore to an M&A fight.
|
|
ICL, the world's sixth-largest potash producer, said in a statement to the Tel Aviv Stock Exchange a start date for Zoller has yet to be determined.
|
|
Fertilizer prices remain low amid pressure from bloated global capacity and soft crop prices, but O'Rourke said both phosphate and potash prices have stabilized since last year.
|
|
It would combine Potash's crop nutrient production capacity, the world's largest, with Agrium's farm retail network, North America's biggest, plus its own potash mine and fertilizer plants.
|
|
A formal application for a licence was submitted on Monday for the potash project, a 50:50 joint venture with state-owned mining firm ENAMCO, he said.
|
|
The unnamed Russian billionaire cited by the Trump company's lawyers is Dmitry Rybolovlev, whose financial empire springs from his companies' production of potash, often used for fertilizer.
|
|
MUMBAI (Reuters) - Indian fertilizer companies will soon raise potash prices after the government last week cut subsidies by 20 percent for the current financial year, officials said.
|
|
As a potash exporter, Turkmenistan will compete with its former Soviet overlord Russia, home to the world's biggest producer Uralkali, and Belarus, also a major global player.
|
|
The company is the world's sixth-largest producer of potash, a key ingredient in fertilizers, with exclusive rights in Israel to extract minerals from the Dead Sea.
|
|
Sirius, which calls its product POLY4, says that makes it superior to more widely used potash, which only contains potassium and can leave a damaging chloride residue.
|
|
The merger of Agrium and Potash, a deal with no premium, appears not to have set shareholders' hearts on fire as both stocks slipped after the announcement.
|
|
Prices of crop nutrient potash have leveled off this year after hitting eight-year lows late last year due to low crop prices and excessive production capacity.
|
|
New York-listed shares of Potash dipped 1.7 percent to $93 in afternoon trading, after it reported its results and narrowed its full-year earnings guidance range.
|
|
It included a 2.1 percent drop in the shares of Potash Corporation of Saskatchewan Inc to C$20.86, while Agrium Inc fell 1.75 percent to C$115.78.
|
|
When everyone else at S&S got back after the holidays, I continued the brainstorming and sketching process with Justin, Dan Potash, Namrata Tripathi, and Lauren Rille.
|
|
WINNIPEG, Manitoba/LONDON (Reuters) - Canada's Nutrien Ltd, the world's biggest potash miner by capacity, has helped engineer a surprising price rebound for the fertilizer by idling capacity.
|
|
Three more stages of equal size are longer-term options, taking the mine to 16 million tonnes, or more than double the world's current largest potash mine.
|
|
ICL, the International Potash Institute (IPI) and donor-backed agriculture programs have been working with EthioSIS to develop and provide new fertilizer blends adapted to local soils.
|
|
ICL's results were also negatively impacted by the continued delay in the signing of a potash supply agreement in China and the weak commodity fertilizer market environment.
|
|
Canada relies on CN and Canadian Pacific Railway Ltd to move products like crops, oil, potash, coal and other manufactured goods to ports and the United States.
|
|
Potash Corporation of Saskatchewan Inc dropped 1.7 percent to C$22.51, while gold was little changed at $1,265.20 an ounce ahead of the Fed meeting this week.
|
|
The most influential movers on the index included Barrick Gold, which rose 2.6 percent to C$256.38, and Potash Corp, which advanced 20.4 percent to C$292.08.
|
|
With the benefit of hindsight it overpaid for its U.S. shale assets and it frittered money away on failed attempts to take over a Canadian potash producer.
|
|
The plant is one of ICL's core assets, producing potash that goes into fertilizers, bromine for flame retardants and other products sold for billions of dollars worldwide.
|
|
The group has for years fought complaints by environmental groups and some local municipalities about the discharge of salty waste water from processing potash ore into fertilizer products.
|
|
But the world's largest producer of potash by capacity said volumes were down as strong demand in offshore markets only partially offset lower, weather-related U.S. sales volumes.
|
|
Potash Corp, which confirmed it is sticking with its tighter supply strategy, surprised many in January by closing its eastern Canadian mine about a year after opening it.
|
|
Mazepin, whose son Nikita races in the Formula Two feeder series, bid for the failing Force India last year through the potash company Uralkali which he co-owns.
|
|
Weather and lower crop planting hit North American spring potash demand of which only a proportion is expected to be made-up in the fall, the company added.
|
|
Revenue from non-renewable resources, which includes oil and potash, is forecast to fall 19 percent in 2016/17 to C$1.5 billion, the lowest in 13 years.
|
|
K+S has for years fought complaints by environmental groups and some local municipalities about the discharge of salty waste water from processing potash ore into fertiliser products.
|
|
Chemical makers DuPont and Dow are currently joining forces, and earlier this week, the Potash Corporation of Saskatchewan merged with Agrium Inc, a large agriculture and fertilizer company.
|
|
The company, controlled by Russian businessman Andrey Melnichenko, initially expected to make 500,000-600,000 tonnes of potash this year from its new Usolskiy plant, near Russia's Ural mountains.
|
|
Activity in the mining, quarrying and oil and gas extraction sector rose 1.4 percent, driven by a surge in potash mining due to higher exports for the commodity.
|
|
But the fifth-largest global potash seller faces a stiff challenge before it makes a single delivery: where to store the pink granular nutrient until farmers need it.
|
|
K+S plans to sell up to 500,000 tons of potash annually in the United States, accounting for some 7 percent of U.S. demand, according to industry estimates.
|
|
The alternative is relying on the 10- to 14-day railway trip for potash to move from mines in Saskatchewan to buyers in the Midwest and northern Plains.
|
|
Higher potash prices charged to millions of Indian farmers will hurt demand in one of the world's largest importers of the fertilizer, raising concerns for big global suppliers.
|
|
India buys potash from these global miners in annual contracts that the South Asian country usually signs at the start of its fiscal year beginning on April 20173.
|
|
Potash executives would collect payments of $24.7 million and Agrium executives would get $20.4 million to compensate them for a change in control of the companies, ISS said.
|
|
Canpotex Ltd, the offshore sales arm of potash producers Nutrien Ltd and Mosaic Co has also been affected by congestion and delays around Vancouver, spokeswoman Natashia Stinka said.
|
|
FRANKFURT (Reuters) - A German court said on Tuesday it would not open proceedings against executives of German potash and salt miner K+S on charges of water pollution.
|
|
The company said this week it would not seek board approval in 2018 as expected for capital to finish building Jansen due to uncertainty in the potash market.
|
|
Saskatchewan, home to major potash and uranium reserves, projected a C$34.4 million surplus for 2019-20, with increasing surpluses for future years, the province's budget document showed.
|
|
K+S plans to sell up to 500,000 tonnes of potash annually in the United States, accounting for some 7 percent of U.S. demand, according to industry estimates.
|
|
Australia's BHP pulled out in 2012, while Israel Chemicals terminated a potash project in 2016 amid a tax dispute and claims the government had failed to provide infrastructure.
|
|
EuroChem, one of the world's largest producers of nitrogen-based fertilisers, has ambitions to be a global potash market player by 2303 with capacity of 2 million tonnes.
|
|
Ever since the US Patent and Trademark Office issued its first patent for a fertilizer ingredient called potash in 22009, it's seen its fair share of dumb ideas.
|
|
The company maintained its forecast for 2016 potash sales of 8.3 million to 8.8 million tonnes but expects that lower prices earlier in the year will weigh on results.
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Potash prices are hovering around the lowest levels seen in a decade, amid excessive output capacity and delays in setting annual supply contracts with Chinese buyers, weakening miners' profits.
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The deal, which still requires U.S. and Canadian regulatory approval among others, would combine Potash Corp's fertilizer capacity, the world's largest, with Agrium's farm retail network, North America's biggest.
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Following Reuters' story, ICL issued a statement citing "media reports on the matter" and confirmed the first agreement for the sale of potash to India was signed on Monday.
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Wholesale U.S. Midwest potash prices, however, have fallen this year by one-quarter to their lowest since mid-2007, according to industry data compiled by NPK Fertilizer Advisory Service.
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The company raised the lower end of its estimate for 2017 potash sales to 8.9 million tonnes from 8.7 million tonnes, keeping the upper end at 9.4 million tonnes.
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MOSCOW (Reuters) - Russia's Uralkali, the world's largest potash producer, said its core earnings fell 21.4 percent in 2016 as prices of the crop nutrient tumbled and sales volumes shrank.
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IPL said it would pass on part of the benefits from lower import prices to farmers by slashing the retail price of potash by 4,000 rupees per tonne ($59).
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In the last week of June, Belarus agreed to supply 700,000 tonnes of potash at the same rate to India, one of the world's top buyers of the material.
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India relies on imports to meet its annual potash demand of about 4 million tonnes, but higher prices are expected to limit how much its 263 million farmers use.
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The surplus capacity of potash, also known as potassium, over demand is 16.6 million tonnes this year and may climb to 18.4 million tonnes in 2018, according to BMO.
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Potash Corp said it was putting its Picadilly mine in the Canadian province of New Brunswick on care and maintenance, resulting in the loss of 420 to 430 jobs.
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FRANKFURT (Reuters) - A German court will widen an investigation into whether to extend a salt-water disposal permit for potash and salt miner K+S, WirtschaftsWoche reported on Wednesday.
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Belarussian President Alexander Lukashenko attended the opening ceremony in eastern Turkmenistan and said most of the plant's production would go to China and India - the world's biggest potash importers.
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Uralkali said this month it expected global potash demand to rise by 1-2 million tonnes this year to between 62 million and 63 million tonnes, driven by China.
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ICL, one of Israel's largest companies and a key supplier of potash to China, India and Europe, has exclusive permits in Israel to extract minerals from the Dead Sea.
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"If we take an average of 2 percent, just to be conservative, the market needs 1.3 million tonnes of additional potash every year just to stay even," Luigs said.
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He declined to comment on whether BHP had shown interest in buying Mosaic, but said it makes more sense to buy existing potash capacity than to build new capacity.
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The potash deposits are near the coast, making exports easier than other mines further in land that have to move ore or concentrate long distances to the main port.
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Prime Minister Narendra Modi's cabinet last week cut potash subsidies by 20 percent from a year earlier to 7,437 rupees ($114.49) a ton for the 2017/18 fiscal year.
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For Agrium investors, concerns that they would become more exposed to slumping potash prices are mitigated by the expected $500 million in savings from the tie-up, ISS said.
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Lohr said he was relaxed about pressure on potash prices from new competitors, saying recent volume increases had been comfortably swallowed by rising demand and often substituted lost capacity.
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The accident, which happened less than a month after K+S toured journalists through the site, comes as the potash industry grapples with its lowest prices in a decade.
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Teck Resources gained 2.6 percent to C$21.47 and First Quantum Minerals added 3.9 percent to C$11.92, while fertilizer company Potash Corp gained 2.3 percent to C$21.56.
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The machines, shearer loaders that use giant spinning claws to scrape coal or potash from underground seams, sell for up to 4 million euros, or about $4.6 million apiece.
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Fertilizer makers, which faced additional pressure after the collapse in 2013 of a global cartel that used to coordinate the supply of potash, have struggled to strike similar deals.
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Potash shares jumped about 12 percent and Agrium shares about 6 percent after the companies confirmed preliminary discussions on Tuesday, putting their combined equity value at around $28 billion.
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Potash has mothballed a recently opened mine in the eastern Canadian province of New Brunswick and temporarily closed some operations in Saskatchewan, the center of the industry in Canada.
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His fertilizers are made of potassium compounds and phosphate produced by Agrium of Calgary, Alberta, which on Monday agreed to combine with the fertilizer producer Potash Corporation of Saskatchewan.
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Potash contracts signed by India, one of the world's top buyers of the crop nutrient, help set the global benchmark along with buying by China, the world's biggest consumer.
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On Thursday, Steiner said he was positive that the downturn in global potash prices would not persist and added that he expected strong European demand in the spring season.
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The Russian billionaire who bought Trump's Florida property is Dmitry Rybolovlev, the AP reports, who made his fortune in potash, a mined mineral that is primarily used as fertilizer.
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Last week, BPC signed an overdue deal with a consortium of Chinese firms to sell potash at $219 per tonne for 2016, a 30 percent drop from last year.
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In late October, 2008, the oligarch was summoned to Moscow, where he was told that a government investigation into an accident at his potash company, Uralkali, was being reopened.
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The merger of two Canadian companies required U.S. regulatory approval because Nutrien will control the majority of North America's potash capacity as well as a large farm retail business.
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The production cuts will allow the company to best use output from its lowest-cost mines, including Rocanville, Mark Fracchia, president of its potash division, said in a statement.
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It expects phosphate prices to fall as much as 29 percent to $22.16 per ton in the current quarter and potash prices to fall as much as 21 percent.
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The prospect of having only two big U.S. potash sellers, down from three, might worry antitrust enforcers, said Ethan Glass, a Justice Department veteran now at Quinn, Emanuel Urquhart & Sullivan.
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TO recorded a 24.18 percent profit drop, as its farm retail business softened the blow of weak nitrogen and potash prices, but it lowered its profit guidance for the year.
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"Humans have taken advantage of these minerals for culinary purposes by burning or roasting Halogeton arachnoideus into an ash or potash to obtain a soda for preparing foods," Ahmed says.
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Belgorkhimprom said in a statement Ashgabat had failed to pay in full for the construction of the Garlyk potash factory completed in 2017 and seized equipment worth over $7 million.
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Meanwhile earlier this month, Canada's Agrium and Potash Corp of Saskatchewan said they would form a combined company in a deal that would create a fertilizer and farm retailing giant.
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Canada's Potash Corp of Saskatchewan Inc , the biggest fertilizer producer, forecast a much less profitable year on Thursday than analysts expected, and reported a surprisingly big drop in quarterly profit.
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The list, which also includes aluminum bauxite, platinum group metals, and potash, will periodically be updated for changes in policy, supply, demand and concentration of production, the Interior Department said.
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The world's biggest listed miner BHP is considering selling a stake in its Canadian potash mine, which analysts say would help share the development risk of a very deep deposit.
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WINNIPEG, Manitoba (Reuters) - Germany's K+S AG will crack into the U.S. fertilizer market this spring when it opens the first new western Canadian potash mine in nearly five decades.
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Earlier on Wednesday ICL reported higher fourth-quarter revenue and profit, beating expectations as potash prices rose and expenses fell at the world's sixth-largest producer of the fertiliser ingredient.
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SANTIAGO (Reuters) - Potash Corporation Of Saskatchewan Inc has hired Goldman Sachs and BofA Merrill Lynch to explore selling its 32 percent stake in Chile's Sociedad Quimica Y Minera (SQM) (SQM_pb.
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The C$4.1 billion ($3.17 billion) project is the first new potash mine in four decades in the western Canadian province and is expected to start significant production in 2017.
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MOSCOW (Reuters) - Nine miners who have been trapped by smoke inside a mine of Russian potash producer Uralkali, are likely to have died, the Russia's Investigative Committee said on Saturday.
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Shares of Potash Corp, which had a market valuation of about C$17.54 billion ($13.43 billion) as of Monday's close, were up 11.5 percent at C$23.30 in morning trading.
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"The company's growth and profitability during the quarter are attributable to improving market conditions and cost controls, as well as the company's ongoing efforts to optimise potash production," he said.
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SDIC Mining Investment Co, a subsidiary of China's State Development and Investment Corp (SDIC), will become the majority shareholder in Arab Potash after the transaction, SDIC said in its statement.
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Industrial use of potash looks to rise 6 percent by 2020 and represent 15.5 percent of overall demand, according to Kevin Stone, minerals and metals adviser for the Canadian government.
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Belarussian President Alexander Lukashenko attended the opening ceremony in eastern Turkmenistan and said most of the plant's production would be exported to China and India - the world's biggest potash importers.
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Russia's Uralkali said this month it expected total global potash demand to rise by 1-2 million tonnes this year to 62 million to 63 million tonnes, driven by China.
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ICL posted adjusted earnings per share of 12 cents, up from 9 cents a year earlier, while sales edged up to $1.43 billion from $1.37 billion amid higher potash sales.
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SDIC mining investment Co., Ltd, a subsidiary owned by China's State Development and Investment Corp, will become the majority shareholder in Arab Potash after the transaction, according to the statement.
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The minerals company K+S said on Wednesday it would sell its salt business in North and South America to slash its debt pile and focus on potash fertiliser products.
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The strike came at a time of tight rail capacity in Canada, with CP and rival Canadian National Railway facing strong demand for shipments of grain, potash and other commodities.
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Canada relies on CN and its smaller rival Canadian Pacific Railway to move products such as crops, oil, potash, coal and manufactured goods to domestic ports and the United States.
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The company said it expected potash sales of 1.9 million to 313 million tonnes in the current quarter, higher than the 1.5 million tonnes it sold in the first quarter.
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CALGARY, Alberta/WINNIPEG, Manitoba, Nov 3 (Reuters) - S hareholders of Agrium Inc and Potash Corp of Saskatchewan Inc overwhelmingly approved an all-stock merger of the fertilizer producers on Thursday.
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He had moved his wife, Elena, and young daughter to Switzerland in 1995, after acquiring control of Uralkali, a state-owned potash-mining company, at the age of twenty-nine.
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"This very substantial level of funding should enable a quantum leap in psychedelic-focused research," said James Potash, director of the Department of Psychiatry and Behavioral Sciences, in a statement.
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The Canadian fertilizer company - formerly Potash Corp of Saskatchewan - must offload its stake in SQM to meet regulatory requirements following its merger with a rival fertilizer company to create Nutrien.
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WINNIPEG, Manitoba, Feb 25 (Reuters) - Potash Corp of Saskatchewan Inc said on Thursday that it will curtail production at two Canadian mines for four weeks, as excessive supplies pressure prices.
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Elsewhere company results were in focus, with shares in Denmark's Nets rising 2.7 percent following its first quarter earnings, and potash miner K+S also up 2 percent after its update.
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ICL, the world's sixth-largest producer of fertiliser ingredient potash, said it was launching a tender to buy back $800 million worth of 4.5 percent debt due in 2024 from bondholders.
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Plymouth, Minnesota-based Mosaic is on the lookout for phosphate or potash assets that could be bargain-priced in a weak commodity sector, Chief Executive Officer Joc O'Rourke said in February.
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Tribeca criticized the board for having overseen the destruction of $30 billion in shareholder capital in recent years with the shale acquisitions, failed deals, scrapped projects, and an investment in potash.
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Shares for Mosaic and Potash were down 7 and 6 percent respectively in New York at 1640 GMT, while Agrium, which also has a large farm retail business, slipped 2 percent.
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TORONTO, Aug 9 (Reuters) - Agrium Inc's operations at its Vanscoy potash mine in Saskatchewan remain suspended on Tuesday after a worker was injured, with no timeline for restarting, the company said.
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" — Mark Potash, father of victim Mark Stugis, Another family member, the father of Mark Stugis, told the 21-year-old his only way out of prison is "wearing a toe tag.
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Last year suppliers had to sell potash to India at $227 per tonne, down from $332 previously and the lowest in a decade, after India delayed purchases due to sluggish demand.
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Potash Corp, which had more than 5,000 employees worldwide at the end of 2014, said it would retain 35 employees at Picadilly to keep the operation in "care-and-maintenance" mode.
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Potash Corp holds just over 30 percent of SQM , and has three board seats, while Kowa and Pampa Calichera have a joint voting pact that gives Ponce say over four seats.
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SA fertilizer unit for about $2.5 billion in December, has been coping with a capacity glut and soft crop prices that have pushed potash and phosphate prices to multi-year lows.
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CP said that while revenue from grain — among the biggest contributors to overall results — slipped 9 percent, potash revenue and revenue from energy, chemicals and plastics both increased over 10 percent.
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Saskatchewan is considering whether to end a review of its potash royalty system, the economy minister of the Canadian province said, as producers of the crop nutrient struggle with low prices.
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"If someone wanted to offer us the right price, of course," O'Rourke said, adding that potash remains a core business to Mosaic and he is not saying it is for sale.
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The most influential movers on the index also included Potash Corp of Saskatchewan, which gained 21 percent to C$22, and Agrium Inc, which was up 3.6 percent to C$132.65.
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The German potash miner said on Wednesday it planned to set up a salt production facility in Western Australia that could start production in 2022, as part of its growth strategy.
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But others were skeptical that regulators would approve a company that would control nearly two-thirds of North American potash capacity and almost one-third of phosphate and nitrogen capacity there.
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ICL, one of the three largest suppliers of the crop nutrient potash to China, India and Europe, had previously said it would cut costs by $350 million this year versus 2013.
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ON NOVEMBER 9TH 1989, as the Berlin Wall tumbled, Hans-Joachim Binder was on night shift at the potash mine in Bischofferode, a village in the communist-ruled German Democratic Republic.
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The potash mine has become the latest front in the battle between BHP, the world's top miner, and Elliott, a hedge fund that has challenged some of the world's biggest companies.
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Indicated 20.8 percent lower The potash miner said its quarterly operating profit slumped 0.13 percent on lower global prices of the crop nutrient and after environmental restrictions temporarily crimped output volumes.
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Potash Corp reported a net loss from continuing operations of $120 million, or 14 cents per share, from a profit of $13 million, or 2 cents per share, a year earlier.
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The Indian commission has now begun the second phase of its review process, similar to the process under way in the United States, Canada and China, said Potash spokesman Randy Burton.
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The labor strife comes at a time of tighter rail capacity in Canada, with CP and rival Canadian National Railway facing strong demand for shipments of grain, potash and other commodities.
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MELBOURNE (Reuters) - Australian lithium miner Galaxy Resources said on Monday it has appointed JP Morgan Australia to evaluate "strategic options" for its Sal de Vida lithium and potash project in Argentina.
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We take imported sands from all over the world — I'm not permitted to tell you which kinds — along with potash (a sort of fertilizer made from potassium chloride) and crushed crystal.
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Nutrien, formed by the merger of Agrium and Potash Corp of Saskatchewan, must sell its stake in SQM by next March as part of a commitment to regulators approving the deal.
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It comes at a time when demand is soaring from potash and crude oil producers, among others, for already congested rail service at CP and its larger rival Canadian National Railway .
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Rival Mosaic Co is looking to restart its idled potash mine at Colonsay, Saskatchewan next year, and K+S AG plans to open a new mine in the province in 2017.
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Excessive global supply and attendant slumping prices are putting pressure on fertilizer makers and leading to consolidations such as a proposed merger between Potash Corp of Saskatchewan Inc and Agrium Inc.
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N, the world's biggest fertilizer company by capacity, cut its full-year profit forecast and dividend for the second time this year on Thursday, and said that potash markets had bottomed out.
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Canadian fertilizer company Nutrien is selling its stake in SQM as part of pledges to regulators who approved this year the merger of Agrium and Potash Corp of Saskatchewan, which created Nutrien.
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The labor strife comes at a time of tighter rail capacity in Canada, where CP and rival Canadian National Railway are facing strong demand for shipments of grain, potash and other commodities.
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JERUSALEM, Feb 15 (Reuters) - Fertiliser producer Israel Chemicals (ICL) reported a smaller than expected drop in fourth-quarter profit and revenue on Wednesday, helped by its speciality products and record potash sales.
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"We expect improved consumption trends and nutrient affordability in key markets to support potash demand and our results through the remainder of 2017," Chief Executive Officer Jochen Tilk said in a statement.
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However, Canada's Potash Corporation said it has received significant interest from potential buyers of its 32 percent stake in SQM, as demand rises for lithium, essential for batteries used in electric vehicles.
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Despite bleak current conditions, improving economic factors such as expected Chinese stimulus spending bodes well for a commodity rebound, Bushell said, adding that Potash is "weathering the storm" well by cutting production.
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SA. Prices of phosphate and potash fertilizer, Mosaic's two main products, have risen year over year but still hover near multi-year lows due to excessive global capacity and weak crop prices.
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Bidders in a new tender would likely include the usual suspects from the small number of leading potash producers, including Russia's Uralkali, Germany's K+S AG and Canada's Nutrien, the report said.
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"Like we do for all our commodities, we monitor the market for potential potash acquisitions and we have seen nothing today that we think competes with Jansen," said BHP spokeswoman Bronwyn Wilkinson.
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The company, formed by the merger of Agrium Inc and Potash Corp of Saskatchewan in January, on Wednesday reported a net income of $741 million in the three months ended June 30.
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BEIJING (Reuters) - China's SDIC will buy Canadian fertilizer supplier Nutrien's 28 percent stake in Arab Potash Co for $502 million, the Chinese state-owned company said on Monday, continuing its overseas expansion.
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K+S, which is also the world's biggest salt producer, blamed tumbling European potash prices, production disruptions and weak demand for de-icing salt as it reported a slump in quarterly earnings.
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MINSK (Reuters) - Potash production at Belarusian miner Belaruskali, the world's top exporter of the fertilizer ingredient, was unaffected after a mine accident late on Friday, deputy chief executive Anatoly Makhlai told Reuters.
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"Great deposits get mined and this is a great deposit," Seamus Cornelius, non-executive chairman of Australia's Danakali, told Reuters about his firm's potash venture which lies near the coast for export.
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WINNIPEG, Manitoba, May 1 (Reuters) - Germany's K+S AG will crack into the U.S. fertilizer market this spring when it opens the first new western Canadian potash mine in nearly five decades.
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Potash Corp fell 266.83 percent to C$2582, after the fertilizer producer said it may defer plans to build a new West Coast shipping terminal with partners Mosaic Co and Agrium Inc.
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Newmont Mining is among a number of gold companies now prospecting in Ethiopia and Norwegian fertilizer maker Yara International plans to build a potash mine and a fertilizer factory in the country.
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Fresh supply would also threaten a recovery for potash driven by steadily growing global demand, Nutrien's curtailments and a slow ramp-up at new mines owned by K+S AG and EuroChem.
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Canpotex's ownership of thousands of rail cars and access to four port terminals give it a logistical advantage, raising the challenge for K+S, the only other Canadian potash miner, to compete.
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K+S said earlier on Wednesday it would sell the business, which accounts for more than a third of group sales, to slash its debt pile and focus on potash fertiliser products.
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K+S said earlier on Wednesday it would sell the business, which accounts for more than a third of group sales, to slash its debt pile and focus on potash fertilizer products.
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India, the world's second-biggest producer of staples such as rice and wheat, imports all its potash needs and relies on foreign supplies for nearly 53 percent of the phosphate it uses.
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Canada's competition watchdog said on Monday it will not challenge a proposed merger between Agrium Inc and Potash Corp, saying the transaction was unlikely to substantially lessen competition in the fertilizer industry.
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The deal, combining the world's largest fertilizer capacity of Potash Corp with Agrium`s farm retail business, the biggest in North America, still faces regulatory scrutiny in Canada and the United States.
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The tie-up, combining the world's largest fertilizer capacity of Potash Corp with Agrium's farm retail business, the biggest in North America, still faces regulatory scrutiny in Canada and the United States.
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Canadian fertilizer maker Nutrien Ltd on Tuesday reported a smaller-than-expected quarterly profit and forecast full-year earnings below analysts' estimates on weak global demand for fertilizers and lower potash prices.
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Canadian rival Nutrien Ltd on Tuesday had reported a smaller-than-expected quarterly profit and forecast full-year earnings below analysts' estimates on weak global demand for fertilizer and lower potash prices.
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More than 99 percent of Potash investors and 98 percent of Agrium shareholders voted in favor of the deal, the companies said at separate meetings in Saskatoon, Saskatchewan, and Calgary, Alberta, respectively.
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The railway operator, which moves potash fertilizer from Bethune, Saskatchewan, to the port of Vancouver, reached a tentative agreement over employment terms with a labor union, ending the strike on May 30.
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Today, surface mining of the brine has largely ceased, but it is still being pumped out of wells on the mining company property by Intrepid Potash, current holder of the mining lease.
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The government will support and incentivise investors who aim to develop minerals that are key inputs for agriculture, such as potash, which is used to make fertilizer, the draft policy document said.
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Swiss-based Eurochem, owned by Russian businessman Andrei Melnichenko, produced the first potash from its new $2 billion plant in Russia in March and plans to launch another plant later this year.
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Bidders in a new tender would likely include the usual suspects from the small number of leading potash producers, including Russia's Uralkali, Germany's K+S AG and Canada's Nutrien, the report said.
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FRANKFURT (Reuters) - German prosecutors said on Friday they were pressing charges against the chief executive, chairman and 12 other employees of potash and salt miner K+S over suspected illegal waste water disposal.
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Fresh Del Monte Produce has recalled vegetable trays distributed to Kwik Trip, Kwik Star, Desmond's, Sentry, Potash, Meehan's, Country Market, FoodMax Supermarket, and Peapod locations in Illinois, Indiana, Iowa, Michigan, Minnesota, and Wisconsin.
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Shares of Potash Corp of Saskatchewan and Mosaic Co, major players who have trimmed output when prices weakened, are down nearly 50 percent from a year earlier following their most recent production cuts.
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But industry watchers noted this controlled-supply strategy helps European mines operated by K&S AG and ICL Israel Chemicals continue to produce potash at some of the highest costs in the business.
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On the fertilizer side (potash, phosphate and nitrogen), transactions have been driven by companies looking to expand retail distribution or add capacity to boost profits at a time where there's oversupply in fertilizers.
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Expectations for a good monsoon season and also low carry-over stocks are expected to support India's import demand, but India's potash subsidy reduction may be a challenge for demand growth, it said.
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The immediate priority of the partnership was to scour mainland China for copper - seen by Rio Tinto as its best growth option — with coal and potash among other commodities also of joint interest.
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Potash prices fell to decade lows this year, pressured by excess capacity and weak demand, but North American farm incomes have also suffered as corn and wheat prices tumbled to multi year lows.
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MUMBAI (Reuters) - Leading global potash producers, including Russia's Uralkali, are likely to supply the crop nutrient to India at the same price Belarus agreed, a key Indian negotiator with overseas suppliers told Reuters.
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ICL, a top global supplier of potash, said in June that it reached a deal with a limited partnership whose general partner is a company controlled by IDE's own chief executive, Avshalom Felber.
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Indicated 0.2 percent higher The potash company is pondering smaller strategic changes in its fertiliser business as well as steps to improve its IT infrastructure, Frankfurter Allgemeine Zeitung reported, citing executive Otto Lose.
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Potash Corporation Of Saskatchewan Inc has hired Goldman Sachs and BofA Merrill Lynch to explore selling its 21 percent stake in Chile's Sociedad Quimica Y Minera, Chilean paper La Tercera reported on Saturday.
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Global prices of potash, a crucial crop nutrient that helps corn and other crops withstand stress, are low due to a slump in farm prices and rapid expansion of mining capacity by producers.
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The potential deal follows a string of aborted industry combinations dating back to the Australian miner BHP Billiton's $39 billion attempted buyout of Potash in 2010 — in retrospect, a dodged bullet for BHP.
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Under terms of the deal, Potash shareholders will receive 0.400 common shares of the new company for each of their shares, while Agrium shareholders will receive 2.230 common shares of the new company.
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The company formed by merger of Agrium Inc and Potash Corp of Saskatchewan in January said on a pro forma basis, it earned $149 million or 13 cents a share, a year earlier.
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