After closing out 2011 on a low, many are hopeful 2012 will be a year for potash and phosphate producers. But despite strong long-term fundamentals, the uncertainties of 2012 appear unlikely to offer a quick turn around in the value of potash and phosphate prices or company values.
China Daily reported that agricultural development in China is strained because of high potash prices.
Seeking Alpha reported that potash likely has a lucrative future.
Reuters reported that Israel Chemicals (TLV:ICL) will supply an additional half million tons of potash to Chinese customers in 2011.
Bloomberg reported that Russia's attempt to capture a huge stake in global potash resources from Belarus may be trumped by China.
Reuters reported that Chinese fertilizer importers are paying higher prices for potash from Russia and Belarus.
Reuters reported that a merger of two Russian potash companies has been approved by the Chinese government, with conditions.
Reuters reported that MagIndustries Corp. (TSE:MAA) will be sold to Evergreen Industries Group if the Chinese government approves the sale.
Mineweb reports that Tel Aviv-based Israel Chemicals Ltd. announced that its ICL Fertilizers subsidiary will supply its Chinese customers with 500,000 tons of potash in the first half of the year.
Migao Corporation (TSE:MGO), a China-based leading specialty potash fertilizer producer, today reported financial results for the three and nine-month periods ended December 31, 2010. The press release is quoted as saying: Migao reported revenues of $64.6 million (RMB 424.7 million) for the 3-months ended December 31, 2010 as compared to revenues of $67.0 million (RMB [...]
Thursday, January 5, 2012