May 2013
28 posts
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Agrium’s Proposed Purchase of Viterra Meets... →
Mining Weekly reported that the Canadian Competition Bureau’s review of Agrium’s proposed purchase of Viterra assets has shown that it is within the necessary time frame, but they cannot assume at this point what the ruling will be.
As quoted in the Mining Weekly report:
The Bureau’s review is ongoing, and is proceeding in accordance with the statutory timelines set out in the...
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Belle Plaine, Colonsay potash expansions deferred →
Mosaic confirmed this week that it has deferred plans to spend $2 billion to expand its potash production capacity by two million tonnes a year at its Belle Plaine mine near Regina and Colonsay mine near Saskatoon.
http://www.leaderpost.com/business/energy/Belle+Plaine+Colonsay+potash+expansions+deferred/8384298/story.html
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Mosaic dismisses potential takeover as unlikely |... →
Company to delay potash expansion by two years due to unfavourable market
http://www.indmin.com/Article/3206044/Mosaic-dismisses-potential-takeover-as-unlikely.html
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Nigeria - US plans $250m fertilizer plant in Edo →
Consul-General of the United States to Nigeria, Mr. Jeffry Hawkins has disclosed plans by the United States government to establish a $250 million fertilizer plant in Edo State.
Mr. Hawkins, who described Edo State Governor, Comrade Adams Oshiomhole as one of the most effective governors in Nigeria made the disclosure during a courtesy call and inspection of projects in the state, yesterday.
The...
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Agrimoney.com | K+S, PotashCorp flag raised global... →
K+S says demand for the nutrient rose
K+S flagged a sharp increase in world potash demand, even as data showed North American producers of the fertilizer enjoying a record month for exports – counterbalancing signs of weather setbacks to domestic demand.
K+S, the European Union’s top potash group, said that the signing by China and India - the top two potash importers, whose deals set...
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Mosaic delays Saskatchewan potash expansion on... →
Mosaic has decided to delay by one or two years expansion of its Saskatchewan potash mines, the company said on Monday. Lawrence Stranghoener, CFO said on a conference call with analysts that the company is deferring the final 2 million m.t./year potash expansion because of unfavorable market conditions and high labor costs. The project was expected to cost “upward of $2 billion.” “By waiting a...
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China fertiliser demand boosts Israel... →
Israel Chemicals (ICL) posted a six percent rise in first quarter net profit, exceeding expectations on strong demand for fertilisers in China.
ICL, the world’s sixth-largest producer of potash, said on Monday its net profit in the quarter rose to $305 million from $289 million a year earlier. Revenue grew nine percent to $1.64 billion. ICL was forecast to earn $286 million on revenue of...
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Fertilizer producer Mosaic to defer potash... →
Mosaic Co, the second-largest fertilizer producer in North America, will delay plans to expand potash production in Western Canada due to unfavorable market conditions, a company executive said.
Read more at AG Professional
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Pakistani fertilizer grows both Taliban bombs and... →
The Pakistani government and the region’s largest fertilizer manufacturer are working with the United States to play a more active role in making sure a key ingredient for homemade bombs stays out of the hands of insurgents in Afghanistan, but that effort may be having an unintended consequence.
Read more at Yahoo News
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Belarusian Potash Company increases export by 21%... →
MINSK, 8 May (BelTA) – Thanks to the efficient work of Belarusian Potash Company, the export of potash fertilizers made by Belaruskali has expanded by 21% up to 1.5 million tonnes in the first quarter of 2013 compared to the same period in 2012, BelTA learnt from Spokesman for Belarusian Potash Company Filipp Gritskov.
Read more at BEATA
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Planning decision on York Potash Project set for... →
Planning decision on York Potash Project set for July
Sirius Minerals has updated its shareholders on the planning approval process for its York Potash Project. As part of its timetable to make a determination on the application, the North York Moors National Park Authority (“NYMNPA”) has prepared an ‘issues report’ for its planning committee. The report is a snapshot of...
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Cut in fertilizer plants gas subsidy to hit common... →
ISLAMABAD : Caretaker Federal Minister for Petroleum & Natural Resources Sohail Wajahat H. Siddiqui in a meeting has proposed to cut the gas subsidy to fertilizer plants which would cause further increase in the fertilizer gas price hike The exercise is said to be aimed at bringing
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Corn growers plan $1.5 billion fertilizer plant... →
GRAND FORKS – North Dakota corn growers are planning a $1 billion nitrogen fertilizer manufacturing plant to be built near here in rural Grand Forks County.
Gov. Jack Dalrymple and Grand Forks Mayor Mike Brown will make a formal announcement today.
The plant will produce nitrogen fertilizer by converting gas currently being flared from oil wells in western North Dakota, according to Tom Lilja,...
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PhilPhos starts exporting fertilizer to Zambia →
MANILA, Philippines - Philippine Phosphate Fertilizer Corporation (PhilPhos) is making a foray into the untapped South African market, as it began exporting fertilizer products to Zambia.
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Nitrogen fertilizer prices fall; China production... →
Increased global production of urea is reducing prices for nitrogen fertilizers, with the downward trend likely to continue through the summer, experts say.
“Everybody wants to know where the floor is. The floor is not there yet, it’s got some way to go,” said Clive Yearsley, chairman of the Profercy fertilizer market analysis firm.
The downward direction is a major reversal...
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Israel Chemicals pays state NIS 400m potash... →
Israel Chemicals: We transfer to the government NIS 1.5 billion as the government’s take, amounting to 41% of the company’s profits in Israel.
Israel Chemicals Fertilizer president and CEO Dani Chen has delivered to Minister of the Economy Naftali Bennett NIS 400 million in potash royalties for 2012. The company pays 16 % of its pretax profit in royalties.
“Israel...
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West Fertilizer Plant Carried $1 Million Liability... →
The fertilizer plant that exploded on April 17 in West, killing 15, injuring 200 and damaging or destroying scores of homes and buildings carried only $1 million in liability insurance.
Roberts said he and other attorneys who have filed lawsuits against West Fertilizer’s owners were told Thursday about the size of its policy.
An insurance industry group estimates the blast may have caused...
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Fertilizer plant blast: How lax security hints at... →
During testimony before a Texas House committee last week, state regulators did not disclose knowing that thieves had for years exploited lackadaisical security to infiltrate the chemical storage areas of the West Fertilizer Co., which vanished in a massive explosion on April 17.
Read more at Yahoo News
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India - Urea investment policy unlikely to reduce... →
The government’s fertilizer subsidy is unlikely to come down even after new plants are set up under the New Urea Investment Policy (NIP) 2013 as prices of gas, a key input, are ruling high in the international market.
“For the subsidy to reduce, new urea plants need to procure gas at less than $12 per million metric British thermal unit (mmBtu), which appears unlikely,” ratings...
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Israel Chemicals Gains on Bets Drop Overdone: Tel... →
Israel Chemicals Ltd. advanced the most in more than a week on bets declines last month after Potash Corp. of Saskatchewan Inc. scrapped a proposed takeover bid were overdone.
The shares gained 1.9 percent, the most since April 23, to 42.99 shekels at 2:24 p.m. in Tel Aviv. They slumped 9.3 percent last month, making it the second-worst performer on Israel’s benchmark TA-25 Index. The measure was...
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BHP gets thumbs up for $10bn potash play →
BHP Billiton’s proposed $US10 billion ($9.7bn)-plus diversification into the global bulk fertilisers market through the development of its Jansen potash project in Canada has received a seal of approval from Goldman Sachs.
In a report that looks at the 10 major themes likely to emerge in the minerals space, Goldman identifies potash as the commodity for the next decade as the pressure to...
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India - Subsidy for phosphate and potash-based... →
NEW DELHI/MUMBAI (Reuters) - India on Wednesday decided to cut the subsidies on phosphate and potash-based fertilisers in the fiscal year that began in April in an effort to rein in its fiscal deficit.The
It will also limit India’s imports of potash and phosphate. India imports all its potash and also buys about 90 percent of its phosphate from abroad.
The subsidy for diammonium...
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Iowa Fertilizer Co. Issues $1.2 Billion of Bonds →
AMSTERDAM, THE NETHERLANDS—(Marketwired - May 2, 2013) - Amsterdam, the Netherlands / 1 May, 2013 11:30 PM Iowa Fertilizer Company LLC Issues $1.2 Billion of Bonds in the US Tax-Exempt Market Iowa Fertilizer Company LLC (Iowa Fertilizer), a wholly owned subsidiary of OCI N.V., announced today that it has issued…
Read more at Market Wired
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Is another potash glut on the way? →
There is a boom in the Saskatchewan economy, and economists all point to increasing exploitation of our resource industries. A major factor has been the expansion of the capacity of the potash industry.
Over the past few years, all of the potash corporations in the province have invested capital in their existing mines. The three existing potash corporations are adding new capacity that will...
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CF Industries buys last Canadian nitrogen... →
Fertilizer manufacturer CF Industries has closed its purchase of the remaining interest in the Canadian Fertilizers Limited nitrogen plant for C$910 million ($901 million).
CF received a Canadian regulator’s approval to buy the 34 percent stake it didn’t own in Canada’s largest nitrogen plant from Glencore International PLC.
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Senate panel to probe Texas fertilizer plant... →
By Ayesha Rascoe WASHINGTON (Reuters) - Senator Barbara Boxer said on Tuesday she plans to investigate the explosion at a Texas fertilizer plant earlier this month that killed 15 people and injured scores more. California’s Boxer, the head of the Senate Environment and Public Works Committee, said the panel will hold a hearing “in the near future” on the disaster and will probe...
April 2013
55 posts
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Fauji Fertilizer’s profit increases 29% →
Helped along by strong sales, stable prices of agricultural inputs.
KARACHI: The Fauji Fertilizer Company has posted a 28.9% rise in profit to Rs4.9 billion in the January-March 2013 quarter on back of higher sales and stable prices of key agricultural inputs. The company’s earnings have clocked in at Rs3.86 earned for every share of the company. It has also announced a cash dividend of Rs3.5...
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Record Junk Sale Funds Fertilizer After Texas... →
An Iowa agency is set to offer the largest-ever U.S. municipal junk bond sale to finance a fertilizer plant two weeks after an explosion at a Texas distributor of crop nutrients killed 14 people.
The Iowa Finance Authority plans to issue $1.2 billion in tax-exempt debt this week to fund the building of a 320-acre nitrogen fertilizer plant by Orascom Construction Industries, Egypt’s biggest...
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Smoking gun in West, Texas, fertilizer blast: lack... →
The tragic explosion at a West, Texas, fertilizer plant April 17 is the most recent manifestation of a badly debilitated system of regulatory protections.
Although the cause of the blast is still undetermined, what is clear is that the West Fertilizer Company stored large quantities of highly reactive products, including anhydrous ammonia and ammonium nitrate, in the middle of a small town with...
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Potash: We'll sell ICL stake if no chance of... →
Canadian fertilizers giant Potash Corporation of Saskatchewan reported its first quarter results on Thursday, and, as is customary, held a conference call with analysts after the financials were released.
The analysts’ first questions to Potash’s management mainly concerned the latest speculation about the possible acquisition of Israel Chemicals Ltd.(TASE: ICL) and Potash’s...
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Train carrying potash derails near Provost; CP... →
EDMONTON - A team of Transportation Safety Board of Canada (TSB) investigators is heading to the site of an early morning derailment in east-central Alberta.
Around 4 a.m. Sunday, 17 cars of a westbound Canadian Pacific freight train containing potash left the rails 9.6 km east of Provost, a town about 20 km west of the Alberta-Saskatchewan border.
“There were no injuries to the...
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Could regulators have prevented the Texas... →
A week after a blast at a Texas fertilizer plant killed at least 15 people and hurt more than 200, authorities still don’t know exactly why the West Chemical and Fertilizer Company plant exploded.
Here’s what we do know: The fertilizer plant hadn’t been inspected by the Occupational Safety and Health Administration since 1985. Its owners do not seem to have told the Department of Homeland...
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Pacific Potash acquires Brazilian subsidiary →
Pacific Potash Corp. (TSX: V.PP, Stock Forum) said that it has earned its 100% working interest in the Amazonas Basin Potash Claims and completed the acquisition of the Brazilian company Potassio Ocidental Mineracao Ltd. from Western Potash Corp. (TSX: T.WPX, Stock Forum).
Subject to the terms and conditions of the previously announced amended option agreement, the company has issued Western one...
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Brazil's Vale says signs accord to quit Argentine... →
Brazilian global miner Vale SA signed an accord with the Argentine government to leave the $6 billion Rio Colorado potash mining project where it suspended work in December, a company press spokeswoman told Reuters on Friday.
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Potash Corp drops bid for Israel Chemicals; profit... →
* Says Israel should be more receptive to foreign investment
* Q1 profit 63 cents/share vs Street forecast 59 cents
* Q1 sales volumes rise 78 pct as China, India resume buying
* Keeps FY2013 guidance; Q2 forecast lower than expected
By Rod Nickel
April 25 (Reuters) - Potash Corp of Saskatchewan , one of the world’s largest potash producers, said on Thursday it was abandoning efforts to...
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Victims start suing owners of West, Texas... →
Two separate lawsuits have been filed against the owner of a Texas fertilizer plant, which exploded last week and killed 15 people. With 75 demolished homes and more than 200 injuries, a firestorm of lawsuits may soon follow.
The first two lawsuits accuse Adair Grain Inc., the company that owned the West, Texas fertilizer plant that exploded April 17, of negligence.
One of the lawsuits was filed...
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UK - Cleveland Potash Boulby development to create... →
Plans to extend a potash mine at Boulby in East Cleveland are expected to create more than 270 jobs by the end of 2015, the owners said.
Cleveland Potash, which runs the site near Saltburn, said the development would secure the plant for 40 years.
Plans include extending the mine to the east and upgrading facilities to increase production capacity.
Some groups have raised concerns the...
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What Is Going On With Potash? →
Recently, Potash (POT) released its latest market data update for the month of March. The figures for potash demand are relatively encouraging. Since the start of the fiscal year 2013, potash production by the North American producers is on the rise. The monthly production increased by 37% compared with the previous year level.
Domestic Sales and Exports
Potash exports for the month are high....
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Texas Fertilizer Blast May Slow $22 Billion in... →
North American fertilizer production projects totaling $22 billion may be at risk of delay amid increased scrutiny from regulators and communities after last week’s explosion at a Texas plant killed 14 people.
CF Industries Holdings Inc. (CF), the largest U.S. maker of nitrogen fertilizer, and competitors including Agrium Inc. (AGU), Mosaic Co. (MOS) and Koch Industries Inc. are planning more...
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Texas fertilizer plant owner sued after deadly... →
(Reuters) - The owner of a fertilizer plant that exploded last week killing 14 people and destroying dozens of homes and an apartment complex in a tiny Texas town is being sued by a single mom and by several insurance companies.
Two lawsuits, filed in McLennan County district court, have accused Adair Grain, Inc, the parent company of West Fertilizer Co, of negligence, according to copies of the...
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K+S Delays Canada Potash Plant Start as Budget... →
K+S AG, Europe’s largest potash maker, delayed the starting date of a new plant in Saskatchewan by about six months as spending on the project will exceed targets by 26 percent. The stock fell to a five-month low.
K+S AG (SDF), Europe’s largest potash maker, delayed the starting date of a new plant in Saskatchewan by about six months as spending on the project will exceed targets by 26 percent....
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Potash's poor cousin, phosphate, offers rich... →
If you like the long-term outlook for potash, you’ve just got to be a fan of another key fertilizer ingredient: phosphate.
Investment maestro Jeremy Grantham has a fond spot in his heart for it. There’s even a lively debate over whether we should be worried about “peak phosphate,” the idea that much of the easily and cheaply mined ore containing the compound has been extracted, leaving the world...
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Western Potash: Lowest hanging fruit, Makes the... →
Western Potash’s (TSX: T.WPX, Stock Forum) Milestone Project in Saskatchewan is now the most advanced undeveloped potash asset in the world, which makes the company ripe for an acquisition, or a joint venture partnership, with a potash-hungry Chinese government-funded corporate suitor. So says Fadi Benjamin, a Toronto-based mining analyst for the Canadian brokerage house and merchant bank,...
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Regulatory And Oversight Problems Led To... →
Investigations into last week’s massive fertilizer plant explosion in West, Texas, have uncovered a host of previous red flags and missed or ignored warning signs. 200 people have been reported injured and 14—mainly first responders and EMS—died. The explosion, whose force registered as a 2.1 earthquake, destroyed 150 homes across 37 square blocks of the small Texas community.
The days...
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Fertilizer stocks gain on hopes of a normal... →
Normal monsoon means there will be timely sowing of summer crops, which can lead to higher use of fertilizers
The hope of a normal monsoon is boosting sentiment in fertilizer company stocks. Last week, Skymet Weather Services Pvt. Ltd forecast normal rainfall between June and September. It means there will be timely sowing of summer crops, which can lead to higher use of fertilizers and other farm...
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Texas fertilizer company didn't heed disclosure... →
By Joshua Schneyer, Ryan McNeill and Janet Roberts NEW YORK (Reuters) - The fertilizer plant that exploded on Wednesday, obliterating part of a small Texas town and killing at least 14 people, had last year been storing 1,350 times the amount of ammonium nitrate that would normally trigger safety oversight by the U.S. Department of Homeland Security (DHS). …
NEW YORK (Reuters) - The...
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Potash wars hit peace of North York Moors →
The normally peaceful North Yorkshire coast is the focus of a showdown between two companies over plans to exploit the world’s biggest reserve of polyhalite, a mineral with international potential.
A huge deposit of polyhalite, a potash salt, lies under the edge of the North York Moors and Sirius Minerals, plans develop a £1bn mine there that it hopes will start production in late 2016.
Read...
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Uralkali Cautions Investors on 2013 Potash Demand →
Caution from one of the worldâs largest potash producers is likely to temper 2013 potash demand figures, but will not significantly change projected g
Russian potash behemoth Uralkali (MCX:URKA) is cautioning investors that the potash demand rebound anticipated for 2013 may not be as big as initially expected.
After its 2012 financial results, released on April 10, showed that its 2012...
