By Kishori Krishnan Exclusive To Potash Investing News
When it comes to resource revenues, forget ‘black gold.’ That’s so 2008. This fiscal year, the hot new colour is pink – as in potash. And who better to don it than several North American suppliers. The stock price in major potash groups have risen in recent months [...]
German salt miner K+S became the latest potash supplier to sign a $460-per-tonne supply deal with India, cementing a slump in prices that has weighed on global potash companies’ shares.
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German fertiliser maker K+S expects lower price in its main product, potash, to help revive demand from farmers later this year.
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German fertiliser and salt maker K+S is bracing for a more significant dip in earnings and sales this year than previously forecast as farmers continue to hold off on potash orders.
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Russian fertiliser maker EuroChem has denied a report that it has threatened to sell its 16 percent stake in German potash miner K+S as part of a push to secure a board seat.
The director of Melnichenko’s investment vehicle Linea, George Cardona, stated:
Eurochem is a long-term investor and we have no plans to sell our stake [...]
In the global marketplace for potash, one of the vital nutrients for plant growth, food production and fertilizer fortunes, no one is sharper at spotting a bargain than China, whose farmers and state fertilizer distributors comprise the world’s largest consumers and importers of potash.
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Russian fertiliser maker EuroChem announced to have reinfored its position as K+S’s leading shareholder and may buy more shares in the German potash and salt supplier.
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Tuesday, October 6, 2009