Potash Mining Controversies
Potash mining, like any business, is faced with scrutiny and controversy which range from environmental to political and financial concerns.
Potash mining, like any business, is faced with scrutiny and controversy which range from environmental to political and financial concerns.
The Australian reported that the government of Saskatchewan approved the development of the Jansen potash project.
Potash has risen from relative obscurity, to one of the most talked about commodities in the global market, thanks to its application as a fertilizer. As the world’s population increases, and the amount of arable land shrinks, the necessity to get the most food production from a finite land base has resulted in a skyrocketing interest, and demand for potash.
A new legislation passed in North Dakota has piqued worldwide interest in the state's local potash deposits.
Calgary Herald reports that BHP Billiton Ltd. (NYSE:BHP) has moved its Jansen potash project into the feasibility stage.
Majority Mosaic stakeholder Cargill has announced that it will sell its shares in the fertilizer producer, a move than many predict will result in another takeover push for Saskatchewan’s potash reserves.
The shares of potash producers rallied Wednesday, following the US Department of Agriculture’s forecast that corn stock would fall to its lowest level since 1996. The news sent grain futures higher, lifting demand for potash and other fertilizers.
Potash producer’s share prices rallied this week on the expectation that corn and soybean futures will extend their gains into the New Year.
Three top fertilizer producers, with exposure to potash, phosphate and nitrogen, were upgraded over this past week.
BHP Billiton’s (NYSE:BHP) bid for Potash Corp. of Saskatchewan (NYSE:POT) is officially dead in the water.
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