Reading Time: < 1 minute Santiago | Reuters — China’s CITIC CLSA Capital Markets will participate in the process to buy an indirect stake in Chilean crop nutrition and industrial chemical firm SQM, one of the world’s top lithium producers, the holding company selling the stake said Monday. Holding company Oro Blanco said in a filing with Chile’s securities regulator […] Read more
Chinese group eyes indirect stake in Chile’s SQM
BHP Billiton to cut 76 Sask. potash jobs
Reading Time: < 1 minute Reuters — Anglo-Australian miner BHP Billiton will cut 76 jobs from its Canadian potash operations due to low commodity prices, a company spokesperson said on Friday. Work continues on sinking and lining shafts at BHP’s potash mine near Jansen, Sask., about 60 km southeast of Humboldt, according to the spokesperson. The mine would be the […] Read more
Canpotex sees terminal expansion decision late next year
Reading Time: 2 minutes Winnipeg | Reuters — The new chief executive of Canpotex expects the Canadian potash trader to decide around late 2016 where to expand West Coast terminal capacity, a move that could give it a faster route to Chinese buyers in a highly competitive market. Options include building a $775 million terminal at Prince Rupert, B.C., […] Read more
Sask. seeks price protection in altering potash taxes
Reading Time: 2 minutes Winnipeg | Reuters –– Potash-rich Saskatchewan hopes to revise its taxes on production of the crop fertilizer to avoid big revenue drops in years when prices sag, the Canadian province’s economy minister said Friday. Saskatchewan, home to mines operated by PotashCorp, Mosaic Co. and Agrium, is conducting its first full review in 10 years of […] Read more
Agrium bucks fertilizer sector trend with Q3 profit
Reading Time: < 1 minute Reuters — Canadian fertilizer and farm retail dealer Agrium on Thursday reported quarterly profit jumped nearly nine per cent, as higher sales volumes and lower costs helped it buck the sector’s trend of weaker earnings. Weaker currencies in fertilizer-buying markets such as Brazil and India are weighing down prices, leading rivals PotashCorp and Mosaic Co. […] Read more
Mosaic sees sliding fertilizer sales; cost-cutting boosts profit
Reading Time: 2 minutes Fertilizer sales look to slide through the rest of the year, U.S. producer Mosaic Co. said on Tuesday, as greater shipments into key markets by rivals in Belarus and China boost competition. The world’s largest producer of finished phosphate products reported a bigger-than-expected quarterly profit, helped by cost-cutting. Fertilizer prices have fallen as the strong […] Read more
Mosaic lays off staff at Sask. potash mine
Reading Time: < 1 minute Reuters — U.S. fertilizer company Mosaic Co. has laid off 46 unionized workers, or eight per cent of the workforce, at its Colonsay, Sask. potash mine, the company said Friday, as producers struggle with weak demand. Potash prices have fallen in the past year due to excessive mining capacity and reduced demand in key markets. […] Read more
Slowdown in sales softens fertilizer market
Reading Time: 2 minutes CNS Canada — A lack of buying throughout North and South America has put fertilizer prices under pressure, but so far, no one is lining up to capitalize on the weakness, according to an industry watcher. “Farmers aren’t in the mood to buy fall fertilizer. I think they’re more uncertain this year than they normally […] Read more
PotashCorp withdraws takeover bid for K+S
Reading Time: 2 minutes New York/Frankfurt | Reuters –– PotashCorp said Monday it had withdrawn its 7.9 billion euro (C$11.6 billion) offer for German potash producer K+S, citing a decline in global commodity and equity markets and a lack of engagement by K+S management. K+S shares dropped 24 per cent after Potash announced its decision in a statement, wiping […] Read more
Mosaic cuts potash output as demand slumps
Reading Time: < 1 minute Reuters — U.S. fertilizer company Mosaic Co. said Monday it would cut potash production and maintain its reduced phosphate output pace, lowering its outlook for sales. Delayed fertilizer purchases in Brazil and North America have weakened markets, along with volatile currency and equity markets and lower crop prices, Mosaic said in a statement after markets […] Read more
A message from April Stewart, Country Guide's Associate Editor
