Potash miners hit by increased competition, supply amid low prices

Australia's antitrust regulator has decided it would not oppose commodities trader Glencore's $26 billion takeover of miner Xstrata.

Knight Vinke is looking for a ratio of 3.25:1 similar to the demands of Qatar which last week pushed the $60 billion deal to the verge of collapse.

The U.S. Court of Appeals in Chicago ordered that an anti-trust lawsuit be brought back to the courts, and a lower court ruling that settled the issue in favour of the potash companies be set aside.

While both Davis and Glencore CEO Ivan Glasenberg would suffer blows to their reputations as dealmakers if the merger should collapse other parties stand to lose more.

Fifty-six mines across Canada provided data on wages paid in 2011.  Thirty-four are union mines; and twenty-two non-union.  Forty-five reported increased wages while eleven made no changes.  None decreased wages. 

Worldwide reserves of potash could surpass demand by between 59% to100% by 2020, says the latest report published by Rabobank.

With the precious cargo slung over his shoulder, Vikram Singh strides through his field spreading the white granular stuff where it matters most.“I can't afford to waste any...I had to buy it on the black market,” says the 38-year-old farmer from Dostpur Mangroli village in the northern Indian state of Uttar Pradesh.

The takeover still requires the Canadian government's approval, and a competition review of Glencore's side deals to sell some assets to Agrium and Richardson International Limited will begin after Glencore's transaction closes, Agrium CEO Mike Wilson told the company's investors in Chicago.

The IIED report urges the sector to move from improving its standards in principle to actually implementing them in practice.