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Saskatchewan Mining

Cameco forecasts new jobs, production at Saskatchewan mines (CBC Saskatchewan – July 27, 2022)

https://www.cbc.ca/news/canada/saskatchewan/

Quarterly earnings report touts new contracts, more jobs at McArthur River/Key Lake facilities

Saskatchewan’s uranium giant is expecting to add more northern Saskatchewan jobs and more cash to its bottom line this year.

Saskatoon-based Cameco, one of the largest uranium producers in the world, has issued its second quarter earnings report. It shows the company brought in $84 million in net earnings over a three-month period. According to president and CEO Tim Gitzel, the market has been positive in 2022.

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Trudeau pushes ahead on fertilizer reduction as provinces and farmers cry foul – by Brian Lilley (Toronto Sun – July 22, 2022)

https://torontosun.com/

Provincial agriculture ministers are expressing frustration with the Trudeau government over plans to effectively reduce fertilizer use by Canada’s farmers in the name of fighting climate change.A meeting of federal and provincial ministers wrapped up in Saskatoon on Friday with several provinces saying they are disappointed.

The federal government is looking to impose a requirement to reduce nitrous oxide emissions from fertilizers saying it is a greenhouse gas contributing to climate change. While the Trudeau government says they want a 30% reduction in emissions, not fertilizer, farm producer groups say that at this point, reducing nitrous oxide emissions can’t be done without reducing fertilizer use.

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BHP accelerates work on its Saskatchewan potash mine as prices soar – by Gabriel Friedman (Financial Post – July 19, 2022)

https://financialpost.com/

Mining giant aims to start production year early in 2026

BHP Group Ltd. has gone from lukewarm to hot on its Jansen potash mine in Saskatchewan, announcing Tuesday that it is working to accelerate first production by a year to 2026, and that it intends to speed up future expansions as potash prices continue to soar.

The Australian mining giant also reported in its year-end operational review that work on Jansen’s shaft, which already runs one-kilometre deep, was completed in June at a total cost of US$2.97 billion.

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Nutrien to acquire Brazilian fertilizer company Casa do Adubo in continued push into Latin America – Niall McGee (Globe and Mail – July 20, 2022)

https://www.theglobeandmail.com/

Nutrien Ltd. is buying Brazilian retail fertilizer company Casa do Adubo S.A. as it forges ahead on an expansion into Latin America despite a difficult global economic environment.

Saskatoon-based Nutrien, the world’s biggest fertilizer company, did not disclose financial terms for the deal, but said it would add roughly US$400-million in sales and expand its reach in Brazil to 13 states from five.

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BHP pivots toward ‘future-facing’ commodities with Saskatchewan potash project – by Andrew Willis (Globe and Mail – June 20, 2022)

https://www.theglobeandmail.com/

In building the world’s largest potash mine in Saskatchewan, BHP CEO Mike Henry looks to heal old wounds and pivot the global giant away from oil and gas

Chief Bryon Bitternose was driving north across the Saskatchewan prairie this week toward two white towers that pierce the landscape – twin elevator shafts that mark the site of what will soon be the world’s largest potash mine. He took a phone call and started laughing.

The source of his amusement? Being asked to sketch the George Gordon First Nation’s history with Melbourne-based global commodities giant BHP Group Ltd. BHP-N, owner of the Jansen mine taking shape near his reserve. Mr. Bitternose chuckled as he said, “The relationship didn’t start real well. We first met in court.”

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Feds give up to $100 million to BHP to reduce emissions at Jansen potash mine – by Zak Vescera (Saskatoon Star Phoenix – June 13, 2022)

https://thestarphoenix.com/

The company claims the Saskatchewan mine will be the biggest and most sustainable in the world when it starts production in 2026.

The Canadian government will partner with Australian mining giant BHP Group Ltd. on a Saskatchewan mega-project they claim will be the biggest and most environmentally sustainable potash mine in the world.

Federal minister François-Philippe Champagne says Canada will give up to $100 million to BHP to cut emissions, reduce water use and diversify hiring at its Jansen project, a long-awaited mine about 140 kilometres east of Saskatoon that officials say will create thousands of jobs and further Saskatchewan’s position as a potash producer at a time of soaring global demand for the vital fertilizer ingredient.

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Nutrien plans major potash production hike as war in Ukraine exerts relentless pressure on global supplies – by Niall McGee (Globe and Mail – June 9, 2022)

https://www.theglobeandmail.com/

Nutrien Ltd. is planning a major ramp up in potash production, as the war in Ukraine exerts relentless pressure on global supplies of the key fertilizer.

The world’s biggest fertilizer producer, based in Saskatoon, said on Thursday that it intends to boost its annual potash production to 18 million tonnes by 2025 – about 21.5 per cent higher than current levels. This year, Nutrien expects to produce about 14.8 million tonnes, a figure that had already been revised upward.

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Sask. could be ‘major producer’ of rare earth minerals – by Tyler Barrow (CTV News Saskatoon – May 31, 2022)

https://saskatoon.ctvnews.ca/

Mike Crabtree hopes Saskatchewan will serve as a catalyst for the rare earth elements industry. “The actual demand for rare earths is going to hockey stick literally over the next 10 years and Saskatchewan has the opportunity to be a major producer,” said Crabtree, president and CEO of the Saskatchewan Research Council.

Crabtree made his comments at Nutrien Tower in Saskatoon on a panel for Saskatchewan Mining Week. He said all 17 rare earth elements can be found in Saskatchewan. They are used in products such as cell phones, televisions, computers, vehicles and wind turbines.

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Nigeria buys emergency Canadian potash to replace lost Russian supply – by Julia Payne (Financial Post/Reuters – May 3, 2022)

https://financialpost.com/

LAGOS — Nigeria had to buy emergency supplies of Canadian potash in April after the country was unable to import the key fertilizer from Russia due to the impact of Western sanctions, the head of Nigeria’s sovereign investment authority NSIA said.

Uche Orji, the head of NSIA, declined to comment on prices. However, spot prices today are up more than 250% for deliveries to west Africa compared to last year, according to commodities pricing agency Argus Media, dealing a further blow to the country’s finances.

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This Canadian mining company is sitting on billions worth of potash. Inside the battle that has angry shareholders alleging vote rigging and stock sabotage – by Steve Buist (Toronto Star – April 30, 2022)

https://www.thestar.com/

Karnalyte Resources Inc. CEO denies allegations, says the company strives to put shareholders best interest “at the forefront of everything.”

Down the hall they marched and into the conference room at the Hampton Inn near Saskatoon’s airport, four armed city police officers acting as a security detail for the board of directors of a small Saskatchewan mining company called Karnalyte Resources Inc.

It was June 7, 2018, and Karnalyte’s annual general meeting was about to start. A handful of frustrated investors hoped to dethrone the board they believed was mismanaging the company. Including the police and the company’s board members, there were maybe 30 people in the room, 40 tops.

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Can the World Feed Itself? Historic Fertilizer Crunch Threatens Food Security – by Elizabeth Elkin and Samuel Gebre (Bloomberg News – May 1, 2022)

https://www.bnnbloomberg.ca/

(Bloomberg) — For the first time ever, farmers the world over — all at the same time — are testing the limits of how little chemical fertilizer they can apply without devastating their yields come harvest time. Early predictions are bleak.

In Brazil, the world’s biggest soybean producer, a 20% cut in potash use could bring a 14% drop in yields, according to industry consultancy MB Agro. In Costa Rica, a coffee cooperative representing 1,200 small producers sees output falling as much as 15% next year if the farmers miss even one-third of normal application.

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A man called ‘Gitty’: Saskatchewan CEO is a global nuclear power player – by Joe O’ Connor (Financial Post – April 14, 2022)

https://financialpost.com/

How did a guy who grew up playing road hockey in this prairie province end up being on the board of the World Nuclear Association? Joe O’Connor has the story

Tim Leier’s phone lit up at 6:19 a.m. on April 1. It was “Gitty” texting him from the Prague airport to let him know he would do his best to get to Leier’s cottage on Emma Lake north of Saskatoon the following evening.

They had been planning a get-together of old hockey buddies who have been running around as a pack ever since they met at North Battleford Comprehensive High School 45 years go.

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Nutrien paid more than US$32-million to former CEOs – by David Milstead and Niall McGee (Globe and Mail – April 5, 2022)

https://www.theglobeandmail.com/

Agricultural giant Nutrien Inc. paid a combined US$32.7-million to former CEOs Chuck Magro and Mayo Schmidt since the beginning of 2021, illustrating the high cost of the company’s executive-suite revolving door.

The Saskatoon company said it paid Mr. Magro US$18.48-million in 2021, including US$8.09-million in severance and consulting payments after it fired him in April. The company said it paid his successor Mr. Schmidt, who had previously been serving as the company’s chairman, US$9.38-million in 2021, and another $4.83-million in severance in January when it fired him.

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Saskatchewan releases plan to advance small modular nuclear reactors – by Taz Dhaliwal and Connor O’Donovan (Global News – March 28, 2022)

https://globalnews.ca/

The Saskatchewan provincial government, along with the governments of Ontario, New Brunswick and Alberta, has announced a strategic plan outlining a path towards the use of small modular nuclear reactors (SMRs), which it hopes can advance SaskPower’s goal of achieving net-zero greenhouse gas emissions by 2050.

Currently, 76 per cent of electricity in Saskatchewan is generated by fossil fuels, according to the province. “Saskatchewan will not make a final decision on whether it will be building an SMR for several years but SaskPower has been working diligently on planning work to help inform that decision,” SaskPower Minister Don Morgan said at a Monday morning press conference.

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Inside the ultrasecretive exit of CEO Mayo Schmidt from Nutrien after eight months – by Niall McGee and Jeffrey Jones (Globe and Mail – March 19, 2022)

https://www.theglobeandmail.com/

Nutrien Ltd. cut ties with chief executive officer Mayo Schmidt after a culture clash over his imperious leadership style, his sluggishness in getting things done and friction involving his chief of staff, according to three sources.

The exit of Mr. Schmidt in January after only eight months on the job shocked investors in the world’s biggest fertilizer company, which lost more than $2-billion in market value after the news dropped. Nutrien did not explain why Mr. Schmidt was stepping down, and analysts criticized the company for being opaque.

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