Saskatchewan Government Increases Potash Tax; PotashCorp Responds

Saskatchewan Government Increases Potash Tax; PotashCorp Responds

PotashCorp has already expressed its disappointment with the news. It pointed out that "changing the rules midstream impacts the ability of our shareholders to earn a fair return on their capital and undermines Saskatchewan’s relative competitiveness."

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Company News

Allana Potash Enters into Arrangement Agreement with ICL

Allana Potash Corp. (TSX:AAA) announced that it has entered into a definitive arrangement agreement with Israel Chemicals Ltd. (NYSE:ICL) that will see ICL acquire, through an indirect wholly owned subsidiary, all of its outstanding common shares.The agreement provides that Allana shareholders will be entitled to received $0.50 in cash for each common share exchanged.

PotashCorp Not Pleased with Saskatchewan’s Taxation Changes

Potash Corporation of Saskatchewan Inc. (TSX:POT,NYSE:POT) commented on the changes the Saskatchewan government has made to potash taxation, noting that they will likely decrease its 2015 pre-tax earnings by C$75 to $100 million.

PotashCorp Representatives Resign from the SQM Board

Potash Corporation of Saskatchewan (TSX:POT,NYSE:POT) announced the three directors it nominated for the SQM board, Wayne Brownlee, Alejandro Montero and Jose Maria Eyzaguirre, have resigned.

Arianne Produces Superior Phosphate Concentrate During Trial

Arianne Phosphate Inc. (TSXV:DAN) announced that the phosphate concentrate it produced during a recent customer trial program has "a superior grade and lower contaminants" compared to the product it has previously produced.

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Market News

Glencore’s Next Move Could be in Agriculture

Bloomberg reported Friday that Glencore PLC (LSE:GLEN) may look to the agricultural space for its next move. The company became a major agricultural player when it purchased Viterra Inc. in 2012, but while Glencore is one of the world's largest traders of wheat, it still has no presence in most important grain market: the United States.

Belarusian Potash Co. Agrees to Supply Potash to China for $315 Per Tonne

Bloomberg reported Thursday that Belarusian Potash Co. has signed a deal with China and will supply the country with potash at a price of $315 per tonne which includes shipping costs. Russia's Uralkali (LSE:URALL) reportedly said the price was "significantly" less than possible, despite it being up $10 per tonne from last years price.

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