Reading Time: 3 minutes Frankfurt | Reuters –– Shares in German potash miner K+S leapt as much as 40 per cent on Friday after a takeover proposal from Canada’s PotashCorp, which sources close to the matter said was worth close to eight billion euros (C$11 billion). K+S, which would become the first German blue-chip firm in a decade to […] Read more
K+S shares surge after PotashCorp takeover approach
Germany’s K+S seen likely to reject PotashCorp offer
Reading Time: < 1 minute Frankfurt | Reuters — Germany’s K+S will likely reject a seven billion-euro (C$9.7 billion) takeover offer from Canadian fertilizer group PotashCorp, a person familiar with the situation said Thursday. K+S’s management and board are still due to discuss the offer from Saskatoon-based PotashCorp, and a decision has not yet been taken, but at first sight […] Read more
PotashCorp evaluating SQM, ICL stakes
Reading Time: 2 minutes New York | Reuters –– PotashCorp CEO Jochen Tilk said Thursday he views the company’s stakes in fertilizer companies Sinofert and Arab Potash Co. as “strategic,” but continues to review whether to keep its shares in ICL and SQM. Tilk, speaking at a BMO investor conference in New York, said if Saskatoon-based PotashCorp could not […] Read more
PotashCorp, Mosaic profits climb less than expected
Reading Time: 2 minutes Reuters — North America’s two biggest potash producers, PotashCorp and Mosaic Co., reported larger first-quarter profits on Thursday, but results missed expectations. Saskatoon-based PotashCorp, the world’s biggest fertilizer maker by market capitalization, cut its full-year profit forecast, and both companies warned potash prices could slide. Prices are yet to recover after a collapse in 2013, […] Read more
Cost-cutting Mosaic CEO collects $5.5M pay raise
Reading Time: 2 minutes Reuters — U.S. fertilizer producer Mosaic Co. boosted its CEO’s pay last year by more than $5 million as a reward for slashing costs and jobs, a regulatory filing shows. Construction of excess potash capacity and fiercer competition have pressured the sector, and leading North American producers Mosaic, PotashCorp and Agrium have chopped expenses. Mosaic […] Read more
Saskatchewan aims to ease potash tax’s price reliance
Reading Time: 2 minutes Winnipeg | Reuters — Resource-rich Saskatchewan wants to change the taxes it charges on production of potash, to better reflect output and lessen the influence of potash prices, the province’s economy minister said Thursday. Potash prices have weakened since 2012 as capacity has increased. Competition has also sharpened since the 2013 breakup of Belarusian Potash […] Read more
SQM stock plummets after directors from PotashCorp resign
Reading Time: 2 minutes Reuters — Shares in Chilean fertilizer group SQM plunged Wednesday after three board representatives from Saskatchewan’s PotashCorp resigned in protest at its handling of an illicit payments scandal that has shaken the Chilean establishment. SQM vice-chairman Wayne Brownlee, the chief financial officer at PotashCorp, and two directors stepped down late Tuesday after clashing with the […] Read more
Chile’s campaign finance scandal fells fertilizer firm’s CEO
Reading Time: 2 minutes Santiago | Reuters — Fertilizer company SQM has fired its CEO after it became embroiled in an election campaign financing scandal that has rocked the Chilean establishment, tainting business leaders and politicians with close links to the 1973-1990 dictatorship of Augusto Pinochet. SQM, which has the rights to some of the world’s largest reserves of […] Read more
Russia’s Uralkali to invest US$4.5B to stay potash No. 1
Reading Time: 2 minutes Moscow | Reuters –– Russia’s Uralkali will invest US$4.5 billion over the next five years to raise production capacity by 30 per cent, aiming to remain the world’s largest potash company despite a setback at a major mine. Uralkali’s capacity to produce potash, a crop nutrient, came into focus after it halted production at the […] Read more
PotashCorp buys stake in Heringer to expand in Brazil
Reading Time: < 1 minute Sao Paulo | Reuters — Potash Corporation of Saskatchewan, the world’s largest fertilizer company by market value, agreed on Monday to pay about $69.8 million for a 9.5 per cent stake in Brazilian rival Fertilizantes Heringer SA, the latest effort by PotashCorp to grow in Latin America’s largest economy. The deal, which is expected to […] Read more
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