By Daniella D’Alimonte – Exclusive to Potash Investing News

Potash Corp. of Saskatchewan (TSX: POT) closed at US$187.71 on August 26, up US$1.61 or 0.9 per cent from the previous day’s close.

There was other good news from this company. It’s management has decided to re-open the  Allan mine. The latter is the largest of the three  company’s mines that have been closed since August 7 due to a workers’ strike. Typically run in four shifts, the mine, after being re-opened, will be run in two shifts, for the time being.

The company is still unsure as to whether the 500 striking workers will have an effect on Potash Corp.’s ability to meet sales commitments, said spokesman Bill Johnson in an interview with Reuters. Last year, the mine produced over 1.7 million tonnes of potash, or 19 per cent of Potash Corp’s total output.

Workers, though, remain on strike with no resolution between the union and the company in sight. Potash One Inc. (TSX: KLC) has also been declining throughout August, falling nearly US$1 per share since the first. It is currently hovering around US$2.74 per share.

The company’s board of directors has now implemented its previously discussed Shareholder Rights Plan Agreement. This plan will ensure that shareholders will be treated fairly in the case of a take-over bid for the company’s outstanding common shares. It will afford shareholders the time to evaluate and assess their options, without pressure and time restraints. The only condition to this plan is the acceptance by shareholders themselves, which will be determined at a meeting on September 25.

In other gloabl news on potash….

Western Potash Corp. (TSX: WPX), currently down to US$0.78 per share, has completed another potash exploratory well at its Russell-Miniota exploration permit in Manitoba. The well is the third of five to be completed on the 555 square kilometres of land. Construction on the fourth hole in underway, according to a press release.

Brazil’s federal government recently put a stop to a deal between its state-owned Petrobras and Canada’s Falcon Metais Ltda. After winning the bid for two potash properties by agreeing to pay over 160 per cent of the minimum bid price, the deal was suddenly ordered to be terminated. The government, which has been under pressure from local farmers dealing with current high potash prices, claimed that the land was far too valuable to the Brazilian economy. It has been predicted as having about two million tonnes of potash available for production.

Bill Clarke, Falcon’s director and previous ambassador to Brazil, is now involving Canada’s current ambassador as well as Foreign Affairs and International Trade Canada. “To date, we have received very strong support from them indicating that they are interested in this story and they would like to know exactly what happened and what’s going on,” said Clarke in an interview with Globe and Mail.

With the assistance of the newly-contracted Kinetex Inc., Raytec Metals (TSX: RAY) is aggressively advancing its potash exploration program in Saskatchewan. Kinetex’s digital, high resolution seismic data will help Raytec design and begin the first phase of its program. With permits for claims covering about 91,549 acres of land from the Saskatchewan Ministry of Energy and Mines, Raytec is awaiting permits for another 207,360 acres. Shares for this company are on the slide, however, having lost about US$0.80 per share since the beginning of August. It is currently sitting at about US$0.78 per share.

Belarusian Potash Company is considering selling fertilizers other than potash in cooperation with other Russian companies. This would allow for fuller shipments as well as a wider range of products, said Mikhail Osipenko in a press conference. The company may also consider increasing the number of stockholders, he said.