Mining Weekly reported that last month's shareholder meeting in which Jana Partners expected to be voted to the board of Agrium, but instead got swept out of the vote altogether bring to light the emergence of likely proxy battles for mining companies in the current environment.
Potash Market News Directory
The Leader Post reported that some economists fear that the robust potash industry in Canada is leading to over-investment.
Global News reported that about 50 ducks were saved and several died after landing in a Mosaic Co. (NYSE:MOS) tailings pond in Saskatchewan.
Reuters reported that, in an effort to curb a ballooning deficit, the Indian government is cutting subsidies on potash-based fertilisers and is scaling back on potash imports. As quoted in the market report:
Bloomberg reported that the Canadian GDP is on pace to record its largest quarterly gain since 2011, partly on the backs of potash miners.
Mining Weekly reported that Brazil is working hard to create a profitable environment for potash companies, setting itself up to become a major player in the global potash industry.
The Globe and Mail reported that, although BHP's enormous Jansen project is moving its way through the approval process, it is still waiting the go-ahead from design engineering after deciding to increase the project's size substantially.
The Globe and Mail reported that there is a certain irony for PotashCorp, who is currently battling with the government of Israel for their proposed takeover of ICL, in that the very economic force that is creating difficulty for them now was what helped to block BHP's takeover of them in 2010, when the Canadian government decided that the move was not to Canada's economic benefit.
The Calgary Herald reported that Agrium was successful in holding activist shareholder Jana Partners LLC at bay during their recent AGM, with all of Jana's nominees rejected in the board elections
Bloomberg reported that K+S has named Andreas Radmacher to manage their potash and magnesium operations.