US-based Mosaic Co. has
updated its Q3 2015 guidance in response to crop nutrient
market conditions, including delayed purchases in Brazil and
"Domestic and international crop nutrient
markets have softened," Mosaic said, adding that "currency
volatility, lower grain and oilseed prices, political and
economic uncertainty, as well as global equity market declines
have adversely impacted market sentiment".
Mosaic’s CEO, said: "The industry faces some
near-term challenges in the current environment. It is a time
for leadership, and we are managing our production levels to
match current demand, controlling our costs and maintaining our
Mosaic now expects to produce 2.1-2.4m
tonnes phosphates and 1.6-2m tonnes potash in Q3. Selling
prices for diammonium phosphate are projected to fall within
the $435-455/tonne range, while muriate of potash (MOP) prices
are expected to be at the bottom of the company’s
previously announced range of $260-280/tonne.
Uralkali-Technology, has signed a master
agreement and confirmation with VTB Capital
for a REPO transaction in which shares will be exchanged for a
total amount of $800m.
Uralkali-Technology will issue just over
370m shares representing 12.6% of the company’s
Meanwhile, Uralkali itself is to increase
the size of its previously approved common share purchase
programme. The company will expand its self-owned holding to
over 700m shares, accounting for 24% of its share capital.
Uralkali said its board had considered
recommendations from the company’s audit committee
and non-executive directors before agreeing to the extension of
the repurchasing programme.
In Australia, ASX-listed Danakali
Ltd has registered a 347m tonne rock salt mineral
resource estimate for the Eritrea-based Colluli project.
The project’s rock salt sits
"directly above" the higher value potassium-bearing salts
according to Danakali, which owns the project in a 50:50 joint
venture with the Eritrean National Mining Co.
The company intends to produce sulphate of potash (SOP)
fertiliser from the project and had previously considered the
halite component of the site to be a waste product in its
"This material represents excellent upside
potential for the project," Paul Donaldson,
Danakali’s CEO, said. "The fact that this material
will be mined from the deposit, is of suitable quality for
de-icing and other applications in nearby jurisdictions, and is
in close proximity to the coast, means that the rock salt
represents a potential additional revenue stream for the
The salt layer will be removed via surface
miners, and there is further volume potential in other areas of
the project, Danakali said.
Vancouver, Canada-based American
Potash Corp. has announced that its petition to the
federal Bureau of Land Management (BLM) for the reinstatement
of 12 potash prospecting permits via Sweetwater River
Resources LLC has been denied.
Thus, Sweetwater has applied to the BLM
for 12 new permits "analogous to and encompassing the same
area" as the original 12 permits. American Potash is also
considering an appeal of the dismissal of the original 12
Via its Nevada subsidiary,
American Potash LLC, American Potash holds 11
state potash leases spanning 2.85km2.
Zimbabwe-based Dorwowa Minerals
Ltd, a subsidiary of Chemplex Corp.
has secured $5m from the Reserve Bank of Zimbawe (RBZ) to
increase phosphate production, according to a government report
seen by local newspaper The Chronicle.
"Dorowa Minerals secured $5m from the RBZ
to boost its phosphate production," the report said.
The comapny is the sole phosphates
producer in Zimbabwe. It extracts the fertiliser mineral from
an open cast mine and passes on milled and floated concentrates
to its sister company, ZimPhos.
Chemplex claims that the mine contains
phosphate ore grading at 5-6% phosphate
The Ministry of Mines in
Ethiopia is to issue a potash mining licence to Yara
Dallol BV, a subsidiary of Norwegian fertiliser
producer Yara International ASA according to
local paper the Reporter.
Tolossa Shagi, the Minister of Mines,
said: "We have to evaluate the proposal and grant them the
mining licence as soon as possible."
The Ministry will then send the draft
mining licence to the Council of Ministers for approval, which,
pending support, would pave the way for Yara to produce 1-1.5m
tpa potash at the site.