Reuters reported that Jordan’s Arab Potash Company’s net profits for 2012 fell 34 percent due to a combination of waning global demand and rising fuel costs.
As quoted in the market report:
Net operating income dropped 18.6 percent to 586 million dinars in 2012 against 720 million dinars the previous year, the firm said in a statement.
Potash West NL (ASX:PWN,OTCPINK:PWNNY) dominates mineral tenure in Western Australia, one of the world’s largest glauconite deposits, with 12 exploration licenses and applications covering an area of more than 2,600 km2.
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