Rock Tech Lithium Inc. reports on the preliminary results from its metallurgical testing on a bulk sample taken from its Georgia Lake lithium project.
Potash Mining News
Cameco invests third tranche investment of $5 million for further development of Uranium Equities’ PhosEnergy Process. Demonstration Plant construction completed and undergoing final commissioning for the recovery of uranium as a by-product of phosphate fertiliser production.
In communication with the Alberta Government's Mineral Development Division, the Honourable Nick Taylor, CEO of Softrock Minerals Ltd (SFT) learned this week that the company's application for an additional eight metallic and mineral permits totalling approximately 184,000 acres has beem accepted with deposits and can be expected to be issued in final Permit form near the end of July this year. The government, at the request of Softrock, also cancelled two permits out of the three held by Softrock the last two years and granted a two year extension to the remaining Permit.
The Puna plateau sits at an elevation of 4,000m, stretches for 1800 km along the Central Andes and attains a width of 350–400 km. The Puna covers a portion of Argentina, Chile and Bolivia and hosts an estimated 70 - 80% of global lithium brine reserves.
In its latest Quarterly Commodities Review, Société Générale takes the view that , at a "time of significant doubt for the outlook for the global economy" the recovery is sustainable and the bank is looking for a stronger second half-year. Headwinds persist, however, and the recovery in the advanced economies is likely to remain relatively sluggish.
The Star Phoenix reports on Thursday BHP Billiton plans to spend an additional $488 million at its Jansen potash project east of Saskatoon, Canada bringing the company's total investment to $1.2 billion. If converted to a mine Jansen would have a maximum operational capacity of eight million tonnes per year and would cost an estimated $12 billion. Production could start in 2015 with an estimated life of mine of 70 years.
Mesa Exploration Corp. (TSX-V: MSA) is pleased to announce the receipt of a report outlining a conceptual metallurgical process for the Green Energy mineral brine project prepared by Dr. Richard Hammen of IntelliMet LLC. The report summarizes a processing plan utilizing molecular and ionic separation and reverse osmosis for extracting lithium, potash, magnesium, boron and bromine from the mineral-rich brine. Metallurgical testing will be performed based upon the report on the brine recovered from the upcoming drilling program to verify chemical composition and determine process factors such as recovery and optimum flow rates.
Bloomberg reports that commodities dropped the most in seven weeks after the International Energy Agency announced plans to release emergency oil supplies.Gold for August delivery fell 2.4 percent to $1,516.60 an ounce, the first drop in eight sessions, and palladium for immediate delivery declined 2.2 percent to $747.25 an ounce.
Brazilian miner Vale (VALE5.SA:Quote) said on Wednesday it had scrapped plans to sell stock in its fertilizer division, and would take the unit private, buying shares in the company it does not already own. Vale plans to pay up to 2.2 billion reais (US$1.4 billion) to buy out minority investors of Vale Fertilizantes, whose main asset is a stake in Fosfertil (FFTL4.SA: Quote).
Potash has risen from relative obscurity, to one of the most talked about commodities in the global market, thanks to its application as a fertilizer. As the world's population increases, and the amount of arable land shrinks, the necessity to get the most food production from a finite land base has resulted in a skyrocketing interest, and demand for potash.
Ringbolt Ventures Ltd. (TSX VENTURE:RBV)(OTCQX:RNGTF)(FRANKFURT:3OZ) has commenced drilling on its Lisbon Valley Potash Project in Utah. The planned drilling program is to test the potash and salt horizons on one of its state leases. The state lease is located on section 36, township 29.5 south and range 25 east. The drill plan is to use reverse circulation drilling to the top of salt bed 5 at an approximate depth of 2,800 feet where there is a reported historical assay of 18.5% K2O and then core drill the potash bed. Cane Creek Mine’s Solar Evaporation Ponds. Image by Ringbolt Ventures Ltd.
Western Potash announces purchase of the Milestone Project plan site land and Sedar filing of the technical report
Western Potash Corp. (TSX.V: WPX, FSE: AHE) is pleased to announce that it has completed the purchase of a large parcel of surface lands, advancing the development of the plant site facility for its Milestone potash solution mining project in southern Saskatchewan. The land acquisition program has now successfully secured over 2,550 acres at the company’s preferred plant site location. Securing the plant site location is an important aspect of the Milestone feasibility process as the environmental and regulatory approval processes and project schedules are dependent on it. The site is large enough to house all intended plant site facilities for the contemplated life of the mine.
Western Potash Corp. announced on Tuesday that it has completed the purchase of a large parcel of surface lands, advancing the development of the plant site facility for its Milestone potash solution mining project in southern Saskatchewan. The land acquisition program has now successfully secured over 2,550 acres at the Company’s preferred plant site location. Securing the plant site location is an important aspect of the Milestone feasibility process as the environmental and regulatory approval processes and project schedules are dependent on it.
Investors piled into Ringbolt Ventures on Tuesday after the company announced that it has commenced drilling on its Lisbon Valley Potash Project in the Paradox Basin in Utah. By mid-day the small-cap exploration company was trading up 15% on Toronto's venture exchange on above average volumes. Potash was first discovered in the Paradox Basin in an oil and gas well in 1924 and in 1962, Superior Oil Company drilled the first potash at the crest of the Lisbon Valley anticline. Since 1964, potash and by product salt have been produced from the nearby Cane Creek mine, now owned by Intrepid Potash.
Passport Potash, Inc. intersects up to 25.75% KCL potash mineralization at relatively shallow depths
Passport Potash, Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) is pleased to report preliminary results from two core holes that have intersected significant potash deposits at relatively shallow depths in the Holbrook evaporite basin. According to chemical assay results obtained from Skyline Laboratories in Tucson, Arizona, PPI2011-04 ("Core 1") intersected 9.5 feet (1463.0-1472.5 feet) of 12.29% KCL which includes a 4.0 foot (1465.5-1469.5 feet) interval containing 18.28% KCL. PPI2011-6 ("Core 2") intersected 7.5 feet (1437.5-1445.0 feet) of 11.93% KCL within which includes a 2.5 foot (1439.0-1441.5 feet) interval containing 24.34% KCL.
The Rio Colorado potash mine development project of Brazilian miner, Vale S.A. (VALE - Analyst Report), has been suspended by the government of the Argentine province of Mendoza.
Allana Potash Announces New NI 43-101 Compliant Measured and Indicated Mineral Resources of 673 Million Tonnes and an Increase in Inferred Mineral Resources to 596 Million Tonnes
Allana Potash announced that it has received an updated National Instrument 43-101 ("NI 43-101") compliant Mineral Resource Estimate from ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergau ("ERCOSPLAN") on its Danakhil Potash Project in Ethiopia. The updated mineral resource estimate includes all four potash bearing beds (sylvinite, upper and lower carnallite and kainitite) in the project and is comprised of Measured and Indicated Mineral Resources totaling 673 Million tonnes with an average grade 18.65% KCl (composite of all four potash beds) and Inferred Mineral Resources totaling 596 Million tonnes with an average grade of 19.96% KCl (composite of all four potash beds).
Shares of Potash Corp. of Saskatchewan, the world’s largest fertilizer producer, are down just shy of 8% for the week after losing almost 2% in late trade on Friday despite being upgraded to a buy by analysts at TD Newcrest. Others in the sector fared even worse with newcomer Karnalyte Resources shedding 4.3% while heavyweights Mosaic and Agrium lost over 4.4% and 2.3% respectively after the US Senate on Thursday voted overwhelmingly to eliminate some $6bn in annual subsidies for the country's ethanol industry.
Russian news agencies report Uralkali, Russia's largest potash miner, is not planning to buy Belaruskali, a major Uralkali shareholder said on Friday. Last week it was speculated that the cash-strapped ex-Soviet republic Belarus is negotiating the sale of its most prized asset under the terms of a bail-out loan agreed with Russia. Responsible for one-third of the worlds potash fertiliser production, Belaruskali could have been worth as much as $20bn and a merger with Uralkali owned by billionaire Suleiman Kerimov would have created a group with annual production of 21m tonnes, dwarfing current number one Canada’s Potash Corp's 12m tonnes/year.
With a new government-backed CEO, a capex budget and acquisition war chest that dwarfs others, record net profits, a very generous dividend policy, strong fundamentals in its core business, aggressive expansion into high-growth areas and regions – notably potash and Africa – and a stock that looks downright cheap next to its peers, what is not to like about Vale? After slumping to an 8-month low less than a month ago it now seems investors are finally beginning to warm to the the diversified Brazilian miner. In the month since Murilo Ferreira has been head, the planet's third most valuable mining company has risen against the other supermajors and outperformed the broader market by 7%.
Lithium One Inc. announced on Wednesday the commencement of a pumping test program at its flagship Sal de Vida lithium-potash brine project in Argentina (pictured), one of the largest and the highest-grade lithium and potash brine projects in the world. The TSX Venture-listed company traded little changed on the news and like shares in other juniors in the sector is very volatile. Lithium One is down over 10% so far this year and has not been able to reach the record high it hit back in August 2009 when the Argentina project was first acquired.
Gold miners are expanding their focus in Africa to the northeast of the continent, a region that in the past, was largely bypassed by gold explorers. Northeast Africa already has a few gold deposits in the threshold size of one million troy ounces (the size limit the usually piques the attention of bigger miners.)
Passport Potash Inc. Engages Former Congressman (Hon) Matthew J. Salmon and Upstream Consulting Inc.
Passport Potash Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) is pleased to announce that it has engaged Upstream Consulting, Inc. (http://www.upstreamdc.com) to assist with key governmental relations and coordination between Passport Potash, Federal, State, and Local policy makers effective June 13, 2011. Upstream Consulting, Inc. is led by Matthew J. Salmon and has an experienced team of seasoned Washington government relations professionals who bring widely diverse backgrounds, relationships with decision makers in the government, and the communications skills needed to support the ongoing development of Passport Potash's Holbrook basin project.
Stock in Allana Potash Corp jumped by more than 10% to $2.14 with almost 3m shares changing hands – more than double the daily average – by noon on Monday after the company announced it has intersected three zones of potash mineralization - one of which returned the highest grade potash on the project to date – in the southwest portion of the company's land position. Listed on the TSX-Venture exchange Allana's major focus is on a previously explored potash property in Ethiopia with among others the backing of the World Bank. The counter is up close to 200% so far this year and most of the assets at the company's 160 square km Dallol project are still being quantified.
Rentech, Inc. (NYSE AMEX: RTK) today announced that Rentech Energy Midwest Corporation (REMC), its wholly-owned nitrogen fertilizer subsidiary, closed $150 million of debt financing.