Uralkali shares fall as investors fear another permanent potash mine closure

By James Sean Dickson
Published: Wednesday, 19 November 2014

Investors are likely fearing that Uralkali’s capacity could lower by 20% if the Solikamsk-2 mine suffers the same fate as the Uralkali Mine 1 property, which closed in 2006 following increased brine inflow. The share price fall has been softened, however, by the positive long term rouble depreciation effect, and the possibility of higher potash prices.

Russia-based potash miner Uralkali OAO’s shares fell by around 19% yesterday from the post January share high of Russian rouble (R) 185 ($3.93*), on the news of the company’s suspension of the Solikamsk-2 potash mine.

Investors are likely fearing that the mine will suffer the same fate as...

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