Russia bets on hungry China with $6bn fertilizer mines
EuroChem Group AG spending over $6bn on two mines to produce potash, a mineral found deep in the Earth that’s prized for its ability as soil fertilizer.
While the earth contains enough potash to meet the increased global demand for crop production, some regions lack potash deposits needed for optimal food crop yields, the latest global assessment of the resource by the USGS shows.
While criminal charges against Vladislav Baumgertner, former Uralkali CEO, were ditched, he may face further damages claims as part of the so-called potash case.
The Norwegian fertilizer firm Yara International (OTCMKTS:YARIY) has confirmed the potential to mine potash from the Danakil Depression in northeastern Ethiopia.