Company will combine its salt and potash businesses to make savings and target customers more effectively.
K+S Mining News
The premises is the western port destination for potash from KSPC’s new multibillion dollar Bethune mine in southern Saskatchewan, the first new potash mine in Canada’s premiere potash belt in nearly 50 years.
The firm will be world’s largest potash miner and No.2 nitrogen fertilizer producer.
The mine, which began operations last month, is expected to produce 600,000 to 700,000 tonnes of potash this year and 2 million tonnes per year once at full capacity.
K+S Potash Canada (KSPC) has committed over $2.8 million in funding for wetland conservation through an agreement with Ducks Unlimited Canada (DUC) to ensure wetlands affected by the Bethune mine are offset through the restoration and preservation of wetlands across Saskatchewan.
It's the first potash mine built in the Canadian province of Saskatchewan in more than 40 years.
The Canadian miner, the world’s largest producer of the fertilizer by capacity, expects strong demand to continue this year as North American farmers seek to replenish soil nutrients after record harvests.
Western Potash said it’s moving ahead with its Milestone project, expected to produce 146,000 tonnes of potash annually over 12 years of planned operations.
The company is also said to be mulling a number of investment projects involving a Chinese chemical company.
Before the end of 2017, K+S Potash Canada and Amec Foster Wheeler hope to start production at their Legacy project in Saskatchewan.
Mosaic was charged with fines of more than more than $85,000 after a worker's leg was crushed in a conveyer in February 2014.
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.
Decision to resume operations at the mine was based on Mosaic's expectations that 2017 will be a stronger year for the potash industry.
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.
A tie-up could produce a fertilizer giant worth more than $30 billion.
Analysts see the long-awaited deal to sell potash to Chinese buyers as good news for the beleaguered sector, even though the agreed price is dramatically lower than last year’s.
The company has set Jan. 3 as the restart date for the mine, but that may change based on market conditions.
The German fertilizer producer blamed weak prices, production outages and scarce sales for the poor results.
Belarus has said it might cooperate with Uralkali, in the first sign the two sides might work together since the Russian potash producer broke off their business alliance in 2013.
K+S is responsible for the maintenance on the road, and they acknowledge that there are issues.
The Denver-based potash miner is placing its West facility in New Mexico in "care and maintenance” beginning July.
Analysts, companies expect prices to stay below 2015 levels for at least the next two years.