PotashCorp. (NYSE:POT) (NYSE: POT) reported second-quarter earnings of $1.55 per share(1) ($472.0 million), more than double the $0.61 per share ($186.2 million) earned in the same period last year.
The potash market is primarily controlled by Canpotex and Belarusian Potash Company (BPC). Canpotex is the marketing arm for North American potash producers, responsible for negotiating the long term contracts with potash consumers such as China and India.
MBAC Fertilizer Corp. (TSE:MBC) reported a new National Instrument 43-101 compliant Mineral Resources Estimate for the Itafós Phosphate Project as of July 16, 2010, which is an update of those mineral resources previously reported on April 12, 2010.
MagIndustries Corp. (TSE: MAA) provided an update on the proposed transaction with China National Complete Plant Import & Export Corporation Limited (“COMPLANT”).
Intrepid Potash, Inc. (NYSE:IPI), announced that the New Mexico Environmental Department (NMED) has issued a ground water discharge permit for Intrepid`s HB Solar Solution Mine near Carlsbad, New Mexico.
Canasia Industries Corporation (TSX VENTURE:CAJ)(OTCBB:CANSF)(FRANKFURT:45C) has been informed by the operator that crews have been mobilized at the Clone Gold property to initiate the 2010 summer drill program.
Miningweekly.com reported on Western Potash marketing Sask project, scoping study out soon :
While higher grain prices are a positive for potash producer shares, the overall near term outlook for the sector is bleak; at least according to Goldman Sachs.
Hanfeng Evergreen Inc. (TSE:HF) a leading producer of slow and controlled release fertilizers in China, announced today that Hanfeng and Agrium Inc. have agreed that Hanfeng will purchase Agrium’s ownership in Hanfeng’s subsidiary responsible for developing Sulphur Coated Urea , known as Hanfeng Slow Release Fertilizer Co. Ltd. .
Kitco.com reported on Potash Takeover Action Heats Up in Canada :
Thursday, July 29, 2010