Hedge fund manager says expanding into the currently over-supplied fertilizer market is just a bad idea.
Saskatchewan Mining News
The world's largest miner believes potash will be a $50 billion market by the late 2040s.
The permit renewal comes only a year after the miner obtained regulatory approval from the Canadian Nuclear Safety Commission to rise annual uranium production capacity from 13 million to 24 million pounds.
The firm will be world’s largest potash miner and No.2 nitrogen fertilizer producer.
Timeline-wise, the world's largest miner expects to achieve that goal in about 50 years.
According to the Thunder Bay Port Authority, 134,000 tonnes of potash crossed its docks into ships en route to ports in Brazil and Europe.
Gensource Potash’s feasibility study (FS) was largely in line with its preliminary economic assessments (PEA), validating the robust economics of Vanguard 1.
Project is located 120km east of La Ronge, and 70km south of Silver Standard Resource’s Seabee Gold Operation.
Company could seek approval from the board for Jansen's expansion as early as June 2018, said chief executive Andrew Mackenzie.
The action is heating up in Saskatchewan's Athabasca Basin with one of the major exploration players in the region, Skyharbour Resources (TSXV:SYH), announcing last week that its option partner Azincourt Uranium (TSXV:AAZ) will be starting a new exploration this summer.
Top Canadian uranium producer Cameco (TSX:CCO) has just signed an agreement with CanAlaska Uranium (TSXV:CVV) to conduct exploratory drilling at the West McArthur uranium project, 15 kilometres from its majority-owned McArthur River uranium mine.
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.
JV company Vanguard Potash Corp would develop a small 250,000 tonnes per annum potash mine, initially.
The world's second largest miner gave Pistol a $75K cash injection in an effort to own the Saskatchewan-based properties before the end of 2019.
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.
On the level of transparency in the approvals process, jurisdictions in the US, Australia and Scandinavia performed better than Canada, a fresh report by the Fraser Institute, shows.
BHP Billiton still sees potash as a key commodity in which to base its future growth despite prices for the fertilizer remain weak.
The Hohe See wind park, to be located in the North Sea, has a planned capacity of about 500 megawatts.
Prices for the radioactive metal have fallen more than 50% since the Fukushima disaster in 2011
Tepco’s termination of the contract would affect about 9.3 million pounds of uranium deliveries through 2028, Cameco said.
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.
Shares were up more than 45% on Tuesday mid-morning after it announced that joint venture partner Rio Tinto will start drilling for uranium at the company's asset in Saskatchewan.
Cameco (NYSE:CCJ, TSX:CCO) has inflicted more pain on its payroll as Canada’s largest uranium producer struggles amid a flat market for the nuclear fuel.