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Agrimarkets

  • Strikes at Israel Chemicals could see “anchor customers” lost 31 March 2015

    ICL is appealing to its workers directly now; continued disruptive strike action threatens to prevent the company meeting the requirements of key customers. Stuck between a rock and hard place with looming tax changes and industrial action opposition to tax change-mitigation measures, ICL could further see its facilities sustain permanent damage if an agreement is not made soon. Read More

  • SQM to lose $7m from Q1 2015 income following tax probe 31 March 2015

    The result of the investigation into SQM's tax status will hit the company hard, costing it $7m in net income from its first quarter 2015 results. At the end of last year, the group's results were propped up by an extra $13m net income from the sale of mining rights to Antofagasta Minerals, but accusations about payments to politicians have dogged the company in recent months and led to the ousting of its CEO. Read More

  • Canpotex agrees to “current competitive levels” pricing contract with China 30 March 2015

    Canpotex has not disclosed the exact prices used for contracts signed with its Chinese customers, instead indicating that they are set at “competitive levels”. While projected volumes may be up, the signing of contracts after rival supplier Belaruskali could be signalling an end to the oligopolistic supply situation currently seen in potash. Read More

  • Highfield receives $354m capex DFS for Spanish potash project 30 March 2015

    In a climate of depressed potash prices, margins are increasingly important. Highfield has the potential to bring its Muga potash to production with one of the highest production margins in the industry, which could shield it from the wider financing malaise of higher-cost competitors. Read More

  • JPMC phosphate production rises with operating profits 30 March 2015

    JPMC has been pursuing a number of expansion projects of late. The extra production and resultant sales volumes made possible by these new production bases should lead to a healthy balance sheet in the future, which will also see the benefit of labour settlement payments ending. Read More

  • Arab Potash posts 24% y-o-y fall in 2014 net income 30 March 2015

    Operating cost increases came at an unfortunate time for APC, which also saw prices fall through much of 2014 as worldwide production expanded. The double-squeeze resulted in a 24% y-o-y fall in profits. Read More

  • Floods halt Chilean lithium, potash and iodine production 30 March 2015

    Freak rainfall has caused Chile's SQM, the world's largest producer of lithum, to suspend some of its Atacama desert salar plants as a precautionary measure. Other companies with assets in the region, such as Albermarle, may follow suit if weather conditions continue to hinder operations, while Argentinian lithium projects are also rumoured to have been affected. Read More

  • ICL scoops up potash junior Allana for C$137m 27 March 2015

    Potash bulls beware: while the acquisition of Allana by ICL for the significant sum of C$137m will result in a brief resurgence of excitement in the potash industry, MOP projects are unlikely to exit the finance doldrums any time soon. While Allana’s management team and Danakil potash project must have been attractive to ICL, the acquisition should be viewed in light of ICL’s movement away from domestic operations, which have been beset by strikes and are staring at seemingly inevitable tax rises. Read More

  • Price Briefing 20 – 26 March 27 March 2015

    Albemarle hikes bromine prices; phosphate rock export values flat for last six months. Read More

  • OCP profits continue to fall as company forecasts rising prices 25 March 2015

    Despite rising exports, OCP has seen its full year profits fall on lower phosphate rock and phosphoric acid prices. The company projects a stable rise in phosphate rock prices over 2015. Read More

  • MagIndustries to miss financial declaration deadlines 25 March 2015

    No reasons have been given by MagIndustries for the expected financial statements delay. The company’s headquarters were searched in January 2015 due to allegations of bribery and this development will only serve to further heighten investor concerns. Read More

  • Moroccan phosphate rock prices remain flat 25 March 2015

    Prices unchanged in last six months but rise 13% year-on-year. Read More

  • IM Agriminerals News in Brief 16 – 24 March 24 March 2015

    SQM downgraded by Feller; Canpotex experiences major train derailment; Arianne Phosphate improves metallurgical flowsheet; Celamin in trading suspension after resource ownership dispute; Belarus and Montenegro hold potash and trade talks. Read More

  • Israel Chemicals mulls nitrate of potash production 24 March 2015

    Strikes may be hurting Israel Chemicals in its homeland, but that does not mean it is not looking outwards for growth. After raising the possibility of purchasing fellow potash producer, Chile-based SQM, the company is now considering production of the speciality fertiliser saltpetre. Read More

  • Belaruskali-China deal hails more fragmented and competitive potash market 23 March 2015

    The deal between Belarus and China could be the first of many more competitive moves by producers in the potash market. The sector has historically operated with large joint ventures controlling prices, but with the departure of Uralkali from the marketing arrangement with Belaruskali in 2013, the picture is now more fragmented - with implications for price and stability. Read More

  • Yara-backed Quebec phosphate mine given go-ahead 20 March 2015

    Details on the scale of the recently approved open pit phosphate rock mine are thin on the ground, but with Yara among its serious backers, the project is likely to see its production start as planned in 2019. Read More

  • ICL eyes SQM assets as share price plunges 20 March 2015

    SQM's falling share price in the wake of the removal of its CEO amid a high profile political scandal has made it an attractive target for a number of businesses in ther fertiliser and speciality mineral sector. The Chilean company's fertiliser division's performance has been strong, and reportedly attracted the attention of ICL. Read More

  • Price Briefing 13 – 19 March 20 March 2015

    Antimony trioxide prices drop while European graphite skirts under Chinese FOB contracts. Read More

  • PotashCorp. projects C$75-100m fall in revenue from Saskatchewan tax changes 19 March 2015

    Tax changes announced by the provincial government of Saskatchewan in its budget this week will result in a C$75-100m pre-tax drop in revenue, PotashCorp. has warned. Wider tax changes are being called for from many in the industry, who criticise the current system as inefficient and complex. Read More

  • PotashCorp. representatives resign from SQM as Chilean company’s shares drop by 30% 19 March 2015

    All three of PotashCorp.’s representatives on SQM’s board have resigned from SQM, putting momentum behind the share price battering observed throughout Wednesday. Media attention on the Chilean miner’s high-profile scandals has been intense, particularly following the firing of quarter-of-a-century serving CEO, Patricio Contesse. Read More

  • SQM board ousts CEO after 25 years at the helm 17 March 2015

    Patricio Contesse has been pushed out of SQM after a quarter of a century as its leader at an extraordinary general meeting. The company has provided no information on the content of the board meeting, but market speculation is focussing on the board’s perception of SQM’s public image, following a number of high-profile scandals. Read More

  • Prayon pushes up phosphate prices on sagging euro 16 March 2015

    Belgian producer which is partly owned by OCP said the €100 increase will affect all products from 1 April. Read More

  • K+S potash price recovery sustains results 12 March 2015

    K+S claims that potash price recovery will spill into 2015, despite demand for the product being forecast down. The agrichem producer's cost and operational efficiencies are up to scratch, protecting against any downside. Read More

  • South Boulder CEO outlines DFS opex reduction plans 12 March 2015

    A quick DFS turnaround is expected by South Boulder’s CEO Paul Donaldson, who sees opex falling over the six months until release for the Colluli SOP resource. Read More

  • Sirius Minerals raises £15m in blitz placement 11 March 2015

    In a mining finance glut, Sirius Minerals has completed a £15m placement-based fundraising for its UK-based polyhalite potash project, in a possible indication of shareholder interest and support for the project. Read More

  • IM Agriminerals News in Brief 3–10 March 10 March 2015

    Allana Potash returns positive PEA results; Highfield secures electricity supply for Spanish potash project; CRP continues to pursue offshore phosphate project development; JDC Phosphate improves new phosphate production process. Read More

  • Histadrut ponders strike on Israeli Election Day over ICL bromine layoffs 10 March 2015

    Israel Chemicals workers relations problems are fast becoming a political issue in the upcoming legislative election. Benjamin Netanyahu, who is seeking re-election, is attempting to intervene using the “golden share” owned by the government. Read More

  • Mosaic to accelerate K3 potash mine development with C$1.7bn cash injection 10 March 2015

    Mosaic’s investment in its new K3 facility in Canada is one of the largest extra funding commitments in recent potash news. Esterhazy is a world-leading producing centre for potash, and this development highlights Mosaic’s commitment to the Saskatchewan region. Read More

  • Satimola to reject Kazakhstan Potash Corp. purchase after funding deadlines missed 06 March 2015

    KPC's purchase of Satimola’s potash resource in Central Asia now seems impossible to process following a strongly worded set of letters by the former Fortescue chairman, Gordon Toll, in which the company was accused of not declaring important financial news that he said should be accessible to shareholders. Read More

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