Potash Top Stories

Construction of giant York Potash mine to begin next year

The $3.15 billion project will tap into the world’s largest…

Paul Harris preaches investor patience in Colombia

In this interview with The Gold Report, Harris discusses some…

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Investors pick up potash juniors as majors put up sold out signs

Stocks of Canadian potash juniors Allana, Passport and Western Potash all showed double digit gains for the week to Thursday as the heavyweight producers all announce significant contract price gains and their export arm appears to run out of inventories altogether. This after Bloomberg quoted the CEO of Mosaic as saying the Canpotex "cupboard is bare" and that the sensitive issue of fertilizer deliveries to India's 55 million farmers is not being discussed at the moment.

Reuters: Shares of PotashCorp, rivals slide as grain prices wilt

Reuters reports: Shares of Potash Corp and other fertilizer producers ebbed on Monday despite bullish industry data as a decline in U.S. corn and wheat prices signaled weaker demand for crop nutrients. PotashCorp said on its website that potash inventories at the end of June fell more than 270,000 tonnes from the previous month, with North American inventories about 26% below the prior 5-year average.

India alarm over ‘potash cartel’ grows

India's Department of Fertilisers raised concerns with the country's Foreign Affairs minister on Thursday over 2011 prices set by Canpotex, the company that markets and distributes Saskatchewan's potash globally. India's farming co-ops have halted imports due to the impasse and while waiting for a government decision on import subsidies. At over 6 million tonnes/year India is the biggest importer but says it pays much higher prices than a country like China can negotiate.

Western Potash stock is floated on Tuesday, sunk on Wednesday

On only the second day of trading in Western Potash Corp. common shares on the main board in Toronto, investors were already abandoning the stock in droves. The junior player in Saskatchewan’s potash industry ended Wednesday down 5.5% after an analyst downgraded the stock. Western Potash is in the pre-feasability stage of its Milestone Project in the south of the province where it hopes to mine almost a billion tonnes of potash using steam.

Israel Chemicals raises potash prices 17.5% in new China deal

Globes reports Israel Chemicals, a unit, ICL Fertilizers, will sell potash to its Chinese customers at $470 a ton, $70 a ton higher than prices to China during the first half of 2011. Under the terms of the current contract, 500,000 tons will be delivered in the second half of 2011 for $235 million. ICL reported that since 2010, it has broadened its customer base in China, and sells potash directly to Chinese fertilizer producers and distributors. ICL, which is controlled by Israel Corp, is the world's sixth-largest producer of potash.

Allana Potash adds to string of Ethiopian discoveries

Stocks of Allana Potash Corp was trading slightly up at midday on Thursday after the company announced it had intersected strong potash mineralization in an area not previously drilled at its 160 square km Dallol project in Ethopia. Listed on the TSX-Venture exchange Allana's East Africa project has the backing of the World Bank and most of the assets there are still being quantified. The value of the company has doubled in 2011 and investors who bought the stock in July last year would have enjoyed a four-fold return.