Potash Top Stories

Allana Potash sold to Israel Chemicals for $137 million

The deal aims to speed up development of Allana’s promising…

Quebec okays $750M phosphate mine

The Quebec government has given the go-ahead to build a…

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Ethiopian Potash share price soars, but on what?

Although there was no apparent news driving it, Ethiopian Potash's (TSX-V: FED) shareprice leapt by as much as 20 percent Monday, up from 75 to 90 cents on strong volume. The push upwards may come from investors in anticipation of drilling results from Ethiopian Potash's Danakil property, where it reports an inferred resource of 128 million tonne @ 21 percent potash.

Tata buys into US potash firm amid India’s dispute with producers

In a filing to the Bombay Stock Exchange on Friday, Tata Chemicals said that its subsidiary Valley Holdings has bought a 32.9% stake in EPM Mining Ventures, which is the process of developing a potash prospect in Sevier Lake, Utah. According to the Financial Post talks between India and producers at the International Fertilizer Industry Association's annual conference in Montreal broke down on Friday. At some 7m tonnes/year India is the second largest importer of potash in the world and is asking for a 10% discount on the current price of $500/tonne.

Commodities boom drives economic growth in several Canadian provinces

A Conference Board of Canada report says high energy and metals prices "are prompting resource companies to invest billions in iron ore projects, nickel processing and offshore oil developments" in Newfoundland and Labrador, generating the largest growth in real GDP this year of all the Canadian provinces." The board's Provincial Outlook - Spring 2011 report issued Wednesday also forecasts that Saskatchewan "will benefit from tax breaks and a hot mining industry."

Standard & Poor’s upgrades Potash Corp., sees strong demand for fertilizer

World number one fertilizer company Potash Corp, received a fillip from S&P on Wednesday after the ratings agency upped the company’s rating to stable from negative and reaffirmed its investment grade corporate credit rating of A-. S&P believes Potash Corp. will benefit from strong fundamentals in the potash business and from the fact that its mines are considered low cost and have long reserve lives. Potash Corp, worth some $46bn on the stock market, has attracted renewed interest from investors on the back of rising global food prices, record earnings at the company, and after a hostile takeover bid was scuppered by the Canadian federal government in November last year.

Belarus Potash to raise Brazil spot price

Reuters reported that the spot price for Brazil potash from Belarus Potash will increase. The market news is quoted as saying: BPC, a joint venture between Belarussian state firm Belaruskali and Russia’s Uralkali, said the move reflected higher global demand for potassium-based fertilizers and limited stocks.

SaskatoonHomepage: Canpotex breaks ground on $55m potash railcar facility

Canpotex held a ground breaking ceremony at the railcar maintenance and staging facility located south of Potash Corp’s Lanigan mine on Friday. In business since 1972, Canpotex is the exclusive offshore marketing company for the three big provincial Saskatchewan potash players and maintains a fleet of 5,000 specialty railcars for its customers in about 30 countries around the world.

Trading Room: Fortis to raise $236m for Kazakh potash mines

Trading Room reports that Melbourne-based Fortis Mining Ltd has agreed to raise $236m by selling new shares and notes to investors in Hong Kong and China to buy and develop two potash mines in Kazakhstan. ASX-listed Fortis, previously a gold and base metal explorer, acquired the rights to purchase the Chelkarskaya and Zhilyanskoe salt deposits in March. The deposits have an exploration target range of 6.5 – 6.6bn tonnes of potassium making them amongst the largest potash salt deposits in the world.

Allana Potash says Ethiopian project resource estimate likely to rise

Canada's Allana Potash Corp said drilling results showed that the potential of its Dallol project in Ethiopia could be extended beyond the original resource estimate, helping its shares pare some of their losses. Shares of the potash explorer, which were down as much as six percent midday before the news, recovered to trade down two percent at C$1.70 on the Toronto Venture Exchange. More than 2.5 million shares were traded by late afternoon.

Vulcan Minerals Inc. to spin out new company focussed on potash exploration

Vulcan Minerals Inc. ("the Company")(TSX VENTURE:VUL) is pleased to announce its intention to undertake a corporate re-organization whereby the Company will spin-out certain of its mineral exploration assets into a separate publicly traded subsidiary company (NewCo). These assets consist of the mineral rights in the Bay St. George basin of western Newfoundland where the Company has discovered the Captain Cook potash deposit. The Captain Cook potash discovery was made with a core hole in 2002 and consists of a 5 meter gross interval grading up to 20.40% potassium oxide (K20) at a depth of 287 meters. It occurs in rocks which are geologically similar to those containing the Sussex potash mine in New Brunswick operated by the Potash Corporation of Saskatchewan. (Visit www.vulcanminerals.ca for further information.)