Archive | Potash/Phosphate

Nutrien’s new head of potash optimistic as industry enters ‘mode of recovery’ – by Alex MacPherson (Saskatoon StarPhoenix – September 24, 2018)

Sitting in her office on the 11th floor of the Scotia Centre, her back to a wrap-around view of autumn bursting along the banks of the South Saskatchewan River, Susan Jones contemplates her new position as head of the world’s largest supply of potash.

It’s a big job: Jones is responsible for six of the 10 potash mines currently operating in Saskatchewan, as well as a supply chain that carries the pink-hued fertilizer from the Canadian prairies to India, China and 40 or so other countries around the world.

But Nutrien Ltd.’s new president of potash — a lawyer from Calgary who spent 13 years with Agrium Inc. before its blockbuster merger with Potash Corp. of Saskatchewan Inc. earlier this year — seems more interested in the people who actually use potash. Continue Reading →

The Riches Beneath the Plains: Mineral Exploration and Mining in Saskatchewan is Still World Class (Investng News Network – September 17, 2018)

Investing News Network

This INNspired article is sponsored by Canadian Platinum

Mineral exploration and mining in Saskatchewan have consistently been recognized as the best examples for the industry in Canada, and the province is considered one of the greatest places in the world to conduct mining operations.

The latest Fraser Institute report places the flat province at number two in their worldwide rankings, just below Finland. As the third largest source of employment in the province, the mining industry is vitally important to Saskatchewan. This has led its provincial government to go out of its way to make sure mining in Saskatchewan is as attractive to mining firms as possible.

That’s not to say that Saskatchewan needs much help. Proudly boasting a rich and diverse mineral wealth, a skilled workforce and a strong mining history, Saskatchewan’s mining industry provides enormous opportunity and excellent stability for the mining firms conducting operations within its borders. Continue Reading →

Potash prices are perking up, but Canada’s big fertilizer giant isn’t the best way for investors to cash in – by David Milstead (Globe and Mail – August 31, 2018)

Perky potash prices have prompted more investor interest in the moribund sector this year, but Nutrien Ltd. is not poised to benefit as much as its international peers, because it has ceded its status as the best pure-play choice for fertilizer investors.

The news over the weekend that an Indian potash-supply contract came in US$50 a tonne higher than before and roughly US$10 a tonne above expectations, caused a pop in Nutrien shares this week. They’ve risen just more than 2.9 per cent through Thursday’s trading.

Mosaic Co. Inc. however, has jumped 5.7 per cent this week on the news. That underscores that Nutrien, formed by the merger of Potash Corp. of Saskatchewan Inc. and Agrium Inc., no longer offers the best upside when prices are rising, as they are today. Continue Reading →

Belarus to propose higher potash price to China – by Andrei Makhovsky (Reuters India – August 28, 2018)

MINSK (Reuters) – Belarusian Potash Company (BPC), the world’s largest potash exporter, will propose raising the price of its new contract with China to $290 per tonne, the level of its recently signed deal with India, Chief Executive Elena Kudryavets said.

China is the world’s largest consumer of potash, a crop nutrient, and a contract with the country usually establishes a global price floor.

However, this year BPC, which controls 20 percent of the global potash market, signed the annual contract with India before its talks with China were finished. Continue Reading →

Author to recognize potash mine accident sign books (Moab Times Independent – August 23, 2018)

A gathering to commemorate the 55th anniversary of the tragic Cane Creek Potash Mine Explosion near Moab will be held on Aug. 26 and 27.

The Museum of Moab and the Grand County Historical Preservation Commission are sponsoring the event at the Grand Center at 6 p.m. Monday, Aug. 27. David Vaughn will facilitate the night’s event and Kymberly Mele, the author of the book, “Disaster at Cane Creek,” will be one of several speakers. Mele will also sign books before this event, from 4 to 5:30 p.m. at the same location. The book is a comprehensive account of the 1963 Cane Creek underground potash mine explosion.

A gathering has also been planned for the previous day, Aug. 26, at the Cane Creek Mine Explosion Monument at Intrepid Potash Company (current owners of the facility) west of Moab at 4 p.m. This will be a chance for many to gather near the mine site and see the Cane Creek Monument. For those who need a ride to the mine site they may contact Vaughn. The mine site is located at the end of Potash Road on Hwy. 279. Continue Reading →

Eritrea Mulls Port as Ethiopia Rapprochement Spurs Investors – by Nizar Manek (Bloomberg News – August 23, 2018)

Eritrea is considering building a port on its Red Sea coastline to export potash from deposits being developed in the Horn of Africa nation, a mines ministry official said.

Plans for the harbor signal the country’s reemergence as a potential investor destination after its surprise rapprochement with neighboring Ethiopia last month ended two decades of political tensions.

The facility could be used to ship potash from Ethiopia and adds to a series of port developments in the strategically located region by nations including Djibouti, Somalia, Sudan and the self-declared Republic of Somaliland. Continue Reading →

Israel seeks early re-tender of mining rights to shore up Dead Sea – by Ari Rabinovitch (Reuters U.S. – August 12, 2018)

EIN BOKEK, Israel (Reuters) – The Dead Sea is shrinking at the rate of about a meter a year, leaving behind deserted beaches and sinkholes in a slow-motion environmental disaster.

The main culprit is the drying up of the Jordan river, its main tributary, as communities upstream draw on it for farming and drinking. But mineral extraction makes the crisis worse – of the 700-800 million cubic meters of water lost each year, 250-350 million cubic meters is due to mining, Israel estimates.

Up to now, the Israeli government has rarely intervened in the operations of the biggest extractor: the Dead Sea Works, formerly state-owned and now operated under a 70-year concession by Israel Chemicals (ICL). That is about to change. Continue Reading →

Nutrien to cut 80 jobs at Vanscoy potash operation, raises earnings forecast – by Ian Bickis (Canadian Press/Financial Post – August 1, 2018)

SASKATOON — Nutrien Ltd. increased its earnings forecast for the year Wednesday after announcing job cuts at its Vanscoy potash operation in Saskatchewan earlier in the day. The fertilizer giant said the job cuts will take place in the fourth quarter this year and include about 30 staff and 50 hourly positions.

The changes are meant to make the Vanscoy operations more efficient as it looks for synergies following the merger of Potash Corp. and Agrium Inc. to form Nutrien at the start of the year, the company said.

Nutrien said in its second-quarter results out Wednesday that it had achieved US$246 million in synergies as of the end of June, up from the US$150 million it said it had achieved as of March. Continue Reading →

TRANSFORMATION: Digging out from a mine closure: Sussex gives itself a shake and tries new things – by Connell Smith (CBC News New Brunswick – July 16, 2018)

Southern New Brunswick town lost 1,000 jobs almost overnight when PotashCorp pulled out

Uwe Fiehn has a numbers problem. Despite a fairly steady stream of lunch-time customers exclaiming over the pastries and European breads, the owner of the Country Home Bakery knows a lot more people should be stopping in.

“Every day we need 100 to 110 customers, then you have a very good business,” Fiehn said. “If you have 80 customers every day, that’s also perfect. “But we have at the moment just 50 to 55, you know?” Fiehn and his wife, Linda, bought the property in Sussex Corner, outside Sussex, in August 2015.

1,000 jobs gone

Five months later, PotashCorp delivered the shattering news to Sussex and surrounding communities that it was closing its mine in nearby Penobsquis. Continue Reading →

Why now might be the right time to plant Nutrien in your portfolio – by Jonathan Ratner (Financial Post – July 5, 2018)

A recent rally in potash and nitrogen prices has pushed Nutrien’s shares back up toward the level at which they began trading post-merger

Maybe it has something to do with the name change, but more likely it is the result of a persistently weak market for fertilizer ingredients.

Any way you slice it, Nutrien Ltd. has been buried in the back of many investors’ minds since it was created through the US$36-billion mega-merger of Agrium and PotashCorp of Saskatchewan early this year.

But things could be about to change, thanks to a recent rally in potash and nitrogen prices that has pushed Nutrien’s shares back up toward the level at which they began trading post-merger. Continue Reading →

Nutrien to occupy what will be Saskatchewan’s tallest office building – by Alex Macherson (Saskatoon StarPhoenix – June 14, 2018)

The world’s largest fertilizer company is set to move into what will become the province’s tallest office building once it’s built on the north edge of Saskatoon’s River Landing.

Nutrien Ltd. on Thursday announced plans to relocate its roughly 300 local employees to the 18-storey steel-and-glass tower, construction of which is set to begin soon.

While the terms of the agreement are confidential, Nutrien President and CEO Chuck Magro described it as a multi-year, multi-million-dollar investment for the company. Continue Reading →

Fortune 500 phosphate company Mosaic moving headquarters to Florida – Kevin Bouffard (Orlando Sentinel – May 15, 2018)

Phosphate mining giant The Mosaic Co. is moving its corporate headquarters to Hillsborough County in Tampa Bay from Plymouth, Minn. The statement was short on details, including timing, the exact location of the corporate office and the number of employees to be relocated. All “remain under consideration,” it said.

Mosaic, No. 377 on Fortune 500’s ranking of companies by total revenue, has about 150 employees at its corporate office, company spokesman Benjamin Pratt told the Tampa Bay Times in an email on Monday.

Mosaic currently runs its Florida phosphate operations from a multi-story office building in southeastern Hillsborough. It also has an office to the north near Interstate 75 and Dr. Martin Luther King Jr. Blvd. Continue Reading →

All-women mine rescue team hoping to break down barriers – by Alex MacPherson *Saskatoon StarPhoenix – May 14, 2018)

Kari Lentowicz hopes taking what is thought to be the world’s first all-female mine rescue team to a major competition in Russia will help demolish barriers in a male-dominated industry.

The seven-member group, nicknamed Diamonds in the Rough, is currently raising the $84,000 it needs to travel to Ekaterinburg for the 2018 iteration of the biennial International Mines Rescue Competition.

Lentowicz, who spent more than a decade working in Saskatchewan’s mining industry and has spoken previously about her struggles in a sector dominated by men, is serving as the Diamonds’ coach. Continue Reading →

[Jordan Mining] Three int’l firms interested to explore new deposits of potash (Jordan Times – May 12, 2018)

AMMAN — The Energy and Mineral Resources Ministry is currently considering financial proposals from three companies interested to carry out an assessment study of the potash reserves in the Lisan Area of the Dead Sea, which falls outside the area where the Arab Potash Company (APC) has exclusive mining rights, a top official announced on Saturday.

Minister Saleh Kharabsheh said in a ministry press statement, carried by the Jordan News Agency, Petra, that the ministry’s next step is to float an international tender to explore potash in the said area.

He explained that that the project is part of the ministry’s strategy to enhance the added value of the Kingdom’s mining sector and boost its contribution to the gross domestic product. Continue Reading →

Mosaic Company reported lower sales volumes but higher sales revenue for quarter – by Tom Meersman (Minneapolis Star Tribune – May 7, 2018)

Late spring planting and rail bottlenecks in Canada affected its earnings.

Helped by higher prices for phosphate and potash, net sales for the Mosaic Company rose by about 19 percent during the first quarter of 2018, although adjusted earnings were negatively affected by the late spring planting and other weather-related issues.

The global fertilizer company based in Plymouth said Monday that its net sales during the quarter were $1.9 billion, compared with $1.6 billion last year.

Mosaic CEO Joc O’Rourke said the company expects the positive momentum to continue because of improving market conditions and strong operational performance. In addition, O’Rourke said in a statement: “Our excellent progress on the transformational initiatives at Mosaic Fertilizantes is expected to generate substantial earnings growth in the second half of 2018.” Continue Reading →