Move would seek to secure approval for its friendly merger with smaller rival Agrium, creating the world’s largest potash miner worth about $36 billion.
Potash Corp. Mining News
The firm will be world’s largest potash miner and No.2 nitrogen fertilizer producer.
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.
The company is also said to be mulling a number of investment projects involving a Chinese chemical company.
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.
No injuries were reported and work resumed the next day.
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 last half of 2016 has proven to be extraordinary for potash as several mega deals may finally re-spark the sector.
Sirius Minerals’ York mine is expected to be one of the world’s largest in terms of the amount of resources extracted, generating an initial 10 million tonnes of polyhalite per year.
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.
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.
BHP has been developing its own Canadian potash mine — the Jansen project — in Potash Corp's backyard, and has already invested about $3.8 billion on it.
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.
The overseas marketing arm of Saskatchewan’s three largest potash producers, has abandoned its plans to build a $775-million shipping terminal at the Port of Prince Rupert in British Columbia.
Sirius' mine, located beneath a U.K. national park, is set to generate an initial 10 million tonnes per year of polyhalite – a form of potash.
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.