The firm, a unit of Shanghai-listed Shandong Tyan Home, reportedly walked away from the deal due to recent tightened controls in China on outbound investment.
Speculators are long a net 105,515 silver futures contracts — the highest bullish position since Bloomberg records began in 1993 and more than three times the average weekly net long over that period.
Experts believe the value of the nation's dawning industry is set to jump from $1.1bn this year to $7.9bn in 2021 on a combination of revised regulatory framework and significant gold and copper reserves.
Western Potash said it’s moving ahead with its Milestone project, expected to produce 146,000 tonnes of potash annually over 12 years of planned operations.
The miner said it was unwilling to take the steps required to satisfy Australian steel makers to get the approval of the transaction, which would have its major deal since spinning off from BHP in 2015.