Potash Corporation of Saskatchewan Inc (PotashCorp)
Potash Corporation of Saskatchewan Inc (PotashCorp)
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Chile could earn up to $US7.5B in royalties by 2030 from a new contract with leading global lithium producer Sociedad Química y Minera de Chile (SQM) if it can resolve its dispute with the company, Reuters reports.
SQM and Chilean development agency Corfo have been embroiled in a high stakes legal battle over mining royalties in the Salar de Atacama, one of the world´s richest deposits of lithium, since 2014.
An over 3-year dispute between the Chile and miner SQM is delaying the govt’s right to reap up to $7.5B in lithium royalties by 2030
Rio Tinto, Canada’s Wealth Minerals and Chinese private equity company GSR Capital are considering a bid for a major stake in Chilean lithium producer SQM (Sociedad Quimica Y Minera), Reuters reports.
Canada’s Potash Corp of Saskatchewan must divest its 32% stake in the Chilean as part of its merger with rival Agrium.
German salt-fertilizer company K+S has again rejected Potash Corp of Saskatchewan's takeover offer, saying the Canadian company's assurances about maintaining jobs and mine sites in Germany are unreliable, Reuters reports.
K+S says the world's second-largest potash miner sent it an unsolicited letter that included a proposal for a "business combination agreement" based on an unchanged price of 41 euros ($US44.82) a share.
K+S has again rejected an $8.6B takeover bid from the world’s 2nd largest potash miner, Potash Corp
Potash Corp of Saskatchewan, the world's largest potash producer, will cut 18% of its workforce as it struggles with slumping demand and weak prices.
The company will cut more than 1,000 jobs in Canada, the US and Trinidad.
Despite confidence in the long-term business drivers, the company says a significant portion of fertiliser demand comes from less-robust developing markets.
Potash Corp cut its full-year earnings forecast in October when reporting its weakest quarter in three years.
Norway's massive $US800B sovereign wealth fund, the world’s largest, may be banned from investing in coal mining as minority supporters of the Conservative government back an opposition Labour Party move.
The fund, built from surplus oil and gas revenues, is a major shareholder in global giants BHP Billiton, Vale and Anglo American as well as China's top producer, China Shenhua.
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Sovereign fund may be forced to withdraw from estimated $10B investments in global coal mining majors. Joachim Dagenborg reports
Global miner to invest $2.6B to progress Jansen potash project, aims to sell stakes in Jansen. Sonali Paul reports
Global miner BHP Billiton's new boss is facing his biggest test to date, weighing the fate of a $US14B Canadian potash project just as the collapse of a dominant potash cartel puts more pressure on already weak prices.
The Jansen project in Canada's Saskatchewan province was a big call for BHP CEO Andrew Mackenzie even before Russian potash giant Uralkali's decision to break out of its venture with Belaruskali -- a move it said could slash prices of the crop nutrient by 25%.