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Tag Archives potashcorp — page 4

(Karnalyte.com)
Crops

India backstops first phase of Sask. potash mine

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Winnipeg | Reuters — India’s Gujarat State Fertilizers and Chemicals has agreed to guarantee payments on US$700 million in debt to finance the first phase of Karnalyte Resources’ Saskatchewan potash mine project, Karnalyte said Monday, adding supply even as other miners cut production. Under the deal, a subsidiary of State Bank of India and other […] Read more
(Dave Bedard photo)
Crops

PotashCorp to curb two Sask. mines’ production

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Reuters — PotashCorp said Thursday that it will curtail production at two Saskatchewan potash mines for four weeks, as excessive supplies pressure prices. The company said it would curtail output at its Allan and Lanigan mines, about 50 and 110 km southeast of Saskatoon respectively, for four weeks starting March 20. The move is expected […] Read more
(Dave Bedard photo)
Crops

Agrium’s forecast disappoints

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Reuters — Canadian fertilizer and ag retailer Agrium has joined rival PotashCorp in forecasting a weaker-than-expected 2016 profit, as prices for crop nutrients remain weak. Agrium’s Toronto-listed shares fell as much as 5.2 per cent to $110.89, its lowest in a year, as investors ignored a better-than-expected quarterly profit. The company, which sells seed, fertilizers […] Read more
(Dave Bedard photo)
Crops

PotashCorp forecasts bleak year ahead

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Reuters — PotashCorp has forecast its bleakest year in a decade and slashed its dividend, due to tanking fertilizer prices. Shares of PotashCorp, which also reported lower-than-expected quarterly profit on Thursday, bounced off earlier losses, climbing 1.9 per cent in New York by afternoon. On Monday they tumbled to a nine-year low. Potash prices have […] Read more
(Photo courtesy Agrium)
Crops

PotashCorp mine closure may see Canpotex port shelved

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Reuters — PotashCorp’s decision this week to suspend production at its last New Brunswick mine may lead it to shelve plans to build a new West Coast shipping terminal with partners Mosaic Co. and Agrium, CEO Jochen Tilk said on Thursday. Canpotex Ltd., owned by the three companies, has been considering construction of the terminal at […] Read more
(Dave Bedard photo)
Crops

PotashCorp shutting New Brunswick potash mine

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Reuters — Weak conditions in the potash market will not improve any time soon, PotashCorp’s CEO said Tuesday as the fertilizer company announced it would suspend operations “indefinitely” at its New Brunswick mine. Potash Corp said it was putting its new Picadilly mine near Sussex, about 75 km northeast of St. John, in “care and […] Read more
(Photo courtesy Agrium)
Crops

Chinese group eyes indirect stake in Chile’s SQM

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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
(Dave Bedard photo)
Crops, Markets

Canpotex sees terminal expansion decision late next year

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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
Mosaic’s potash facility at Esterhazy, Sask. (Greg Berg photo)
Crops, Markets

Mosaic lays off staff at Sask. potash mine

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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
Lorne Hehn, shown here in an undated photo, was a southern Saskatchewan farmer before becoming UGG’s president in Winnipeg in 1981. (Grainews file photo)
Crops

Former UGG, CWB chief Lorne Hehn, 79

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Lorne Hehn, at his funeral last week, was remembered as the Saskatchewan farmer-turned-businessman who led the Canadian Wheat Board toward its next-to-last incarnation as a farmer-controlled marketing agency. Hehn, who died Sept. 16 at age 79, had farmed at Markinch, about 65 km north of Regina, and was involved in several farm organizations, becoming a […] Read more

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