Rio sold assets in Argentina, Brazil and Paraguay for $1.6b to Brazilian mining group Vale, and is in talks with Chinese national aluminium producer Chinalco to sell interests in other operating businesses. For full story, click here
Potash producers in Canada, Russia and Germany are cutting back production to try to shore up market conditions. For full story, click here
Potash Corporation of Saskatchewan Inc. cut its earnings forecast for 2008 Friday as sagging fertilizer demand conspired to chop the company’s financial fortunes. Saskatoon-based Potash now says it will make about $10.75 US a share for 2008. For full story, click here
Despite sharp production cutbacks supplies of most fertilizers are sharply higher, with DAP and urea inventories in North America well above five-year averages at the end of October, according to industry data. For full story, click here
Citi maintains a ‘Buy’ on Potash Corporation of Saskatchewan Inc with reduced price target. Citi analyst said: The buyer’s strike that began in phosphate and spread to nitrogen seems to be affecting the potash market also. Despite sitting on relatively low inventory levels (at least for North America) right now, a number of producers have [...]
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