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Tag Archives potash — page 15

(K-plus-S.com)
Crops

K+S rejects PotashCorp takeover offer as too low

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Frankfurt | Reuters –– German potash miner K+S rejected PotashCorp’s 7.9 billion-euro (C$11 billion) takeover bid Thursday, saying it was too low and the Canadian suitor could be planning to dismantle the company, putting jobs at risk. K+S, owner of the Morton Salt brand, said the proposal lacked firm commitments to protect the more than […] Read more
An aerial view of Sirius’ temporary drilling site at North Yorkshire. (SiriusMinerals.com)
Crops

Potash miner Sirius wins approval for mine in British national park

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London | Reuters — Potash mine developer Sirius Minerals on Tuesday won the go-ahead to build a large mine in a scenic national park in Yorkshire, northern England, a company spokesman said, clearing a major hurdle in the construction of the US$3 billion project. The North York Moors National Park’s planning committee members, who were […] Read more
(Dave Bedard photo)
Crops, Markets

Germany’s K+S seen likely to reject PotashCorp offer

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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
(Dave Bedard photo)
Crops, Markets

Mosaic sees lost potash sales if Sask. hikes taxes

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New York | Reuters –– U.S. fertilizer producer Mosaic Co. would lose potash sales if Saskatchewan raises taxes on miners, and customers choose competitors from other countries, its CEO said on Wednesday. “If they were to tax more, we would suffer from that, we would sell less, our profits would be less and they will […] Read more
(Dave Bedard photo)
Crops

PotashCorp, Mosaic profits climb less than expected

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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
(Dave Bedard photo)
Crops, Markets

Mosaic bracing for royalty hit from Sask. potash policy

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U.S. fertilizer firm Mosaic Co. expects Saskatchewan’s new changes to its potash royalty structure to cost the company up to an extra US$100 million in 2015. Minnesota-based Mosaic said Monday its “expected impact” from Saskatchewan’s retroactive move in its 2015 budget will increase the company’s 2015 pre-tax payments by $80 million to $100 million (all […] Read more
(Photo courtesy Agrium)
Crops, Markets

Saskatchewan aims to ease potash tax’s price reliance

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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
Wednesday’s Saskatchewan provincial budget includes these projections for crop production in coming years. (Gov.sk.ca)
Crops, Markets

Sask. budget trims ag spending slightly

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A substantial drop in provincial resource revenue from its oil sector has Saskatchewan holding the line on spending and leaning on its potash sector in its 2015 budget. Finance Minister Ken Krawetz and Ag Minister Lyle Stewart on Wednesday announced a total ag ministry budget of $362.4 million for 2015-16, down 2.5 per cent from […] Read more
(Dave Bedard photo)
Crops

Mosaic fast-tracking Esterhazy potash mine expansion

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U.S. fertilizer firm Mosaic Co. has put expansion work at its southeastern Saskatchewan potash mining site on an “accelerated” timeline. Mosaic, which said in 2008 it would invest $1.7 billion to add 1.8 million tonnes of capacity at its Esterhazy, Sask. site by 2020, now plans to have its new “K3” satellite mine delivering potash […] Read more

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