Canada’s Bank of Nova
Scotia (Scotiabank) has suggested in a recent research
note that Potash Corp. of Saskatchewan Inc.
(PotashCorp), which attempted to take over German rival
K+S AG in 2015, should offer to do the same
this year for US based Intrepid Potash
Ben Isaacson, Scotiabank’s
analyst covering PotashCorp, said that the company should
consider a 50% share price premium offer on the solution potash
miner, according to Canada’s Globe and
Mail. The company has recently seen its ratings outlook
assessed as "underperform" by a number of financial firms.
Intrepid produces muriate of potash (MOP)
at its facilities in Utah and New Mexico, US. However, Isaacson
suggested that the company’s solution mine should
be shut down, with a takeover primarily driven by the value in
the speciality fertiliser business. Intrepid also produces
sulphate of potash magnesia (SOPM), which it brands as "Trio"
fertiliser, at a considerably higher price per unit weight than
However, Isaacson said a transaction
probably won’t appear for a year, as PotashCorp
needs to become "comfortable with antitrust risk" and prices
may continue to fall for the agrimineral.
The Saudi Arabian Mining
Co. (Ma’aden) has announced the approval
of a Saudi Industrial Development Fund loan of Saudi Arabian
riyal 4bn ($1bn*) for the Ma’aden Waad Al Shamal
Phospahte Co. (MWSPC).
The loan is split into four facilities,
each of which provides separately for the construction of an
ammonia plant in Ras Al Khair, a diammonium phosphate (DAP)
plant in the same city, a sulphuric acid plant in Waad Al
Shamal and a phosphate plant, likewise in Waad Al Shamal.
Ma’aden said that the loans
would complete the debt financing of its phosphate joint
venture. Saudi Basic Industries Corp. (SABIC)
and US-based Mosaic Co. retain 15% and 25%
stakes in the business, respectively.
In Australia, Incitec Pivot Pvt
Ltd, a phosphate fertiliser and explosives
manufacturer, has announced that it expects to see an net
profit hit of Australian dollar (A$) 14m following a December
derailment of a sulphuric acid train.
En route from Townsville, the train
derailed near Julia Creek, Queensland. Wet weather had delayed
access to the derailment site, but Queensland Rail is now
constructing access roads to enable the building of a rail
deviation around the incident site.
The company’s Phosphate Hill
plant is still expected to produce 950,000 tonnes fertiliser
during the company’s 2016 financial year.
The Mosaic Co. is to
continue mining its Four Corners site in Duette, US, according
to the Bradenton Herald.
The Manatee County Commission unanimously
approved a five-year operating permit for the mine last week,
allowing a rezoning to be actioned which allows continued
The mine has been in operation for 30
years and will reach a total acreage of 11,908 acres (48
km2) with the approved expansion.
"We will continue the same mining
practices that we have in Four Corners mine onto this
property," Bart Arrington, Mosaic’s mine
permitting manager, said.
*Conversion made January 2016