The firm anticipates “challenging market fundamentals” in the phosphate-fertilizer market, adding that it is currently assessing the value of some assets, which may lead to writedowns.
Agrium Mining News
The 114 miners who were trapped underground following a fire are now home and operations will resume today.
The company also said it expects layoffs resulting from temporary production halts at its Lanigan and Allan mines in early 2017.
The deal, the biggest Canadian merger since CNOOC Ltd. bought Nexen Energy ULC in 2013, would create the world’s largest crop-nutrient supplier, worth about $36 billion.
The combined firm will be the world's largest crop nutrient producer and third largest natural resource company in Canada.
Ryan Lewenza, Portfolio Manager, Turner Investments joins Bloomberg TV Canada's Pamela Ritchie to discuss the potential merger of Potash Corp and Agrium and what that means for the market.
A tie-up could produce a fertilizer giant worth more than $30 billion.
While it did not release price terms, it is believed the group will be selling its crop nutrient for US$315 per a tonne,
The move may be the first of many more competitive deals by producers in the potash market, which has historically operated with large joint ventures controlling prices.
According to analysts from Credit Suisse, Chinese importers will settle at $320 a tonne, versus $305 a tonne they paid last year.
Minimum of 1.9 million metric tons of red standard-grade potash over three years.
Production at the mine was suspended in July after a mechanical failure on the operation’s main hoist system.
Operations at Agrium’s Vanscoy potash mine in Saskatchewan will remain suspended after a mechanical failure on its main hoist system on July 25.
The price of the soil nutrient is down 25% in a year.
Miners just had to wait out the smoke in the mine and stay underground overnight.
'2013 is likely to go down as one of the worst years in the history of the fertilizer industry,' the Motley Fool recently wrote.
The acquisition will allow Mosaic to abandon its plans to build a $1.1-billion ammonia manufacturing plant in Faustina, Louisiana.
The potash world appears ready to go back to its oligopolistic ways.
Temporary delay in potash shipments from Saskatchewan mines.
Agrium Inc. is facing four charges under the province's Occupational Health and Safety regulations in relation to the death of an electrician at the Vanscoy potash mine in 2010.
News media reports say western Canadian agri-business companies Agrium and Richard may be joining Glencore in a rumored US$5.49 billion bid for Viterra.
Investors have been looking with interest at the potash sector ever since BHP Billiton's $38.6 billion overture for Potash Corp. of Saskatchewan. Even though that takeover battle ended in an outright rejection of the offer, […]
Agribusiness giant Cargill Inc. is spinning off its majority stake in fertilizer producer Mosaic (MOS-N72.47-3.68-4.83%) setting the stage for another potential takeover battle over prized Saskatchewan potash reserves, the Globe and Mail reports.