Bloomberg reported that BHP Billiton (NYSE:BHP) is cutting its spending on its Jansen potash project amid poor potash prices.
Intrepid said Monday that its auditors have expressed substantial doubt about its ability to continue.
Potash Corporation of Saskatchewan, the world’s largest potash supplier, announced on Tuesday that it will close its operations in Picadilly, New Brunswick.
The Globe and Mail reported on a recent note from Scotiabank, in which analyst Ben Isaacson suggested that Potash Corp. of Saskatchewan (TSX:POT) should acquire Intrepid Potash (NYSE:IPI).
PotashCorp (NYSE:POT) and Canpotex are optimistic about potash, despite a recent drop in price.
Potash West NL (TSX:PWN) released its May 2015 investor presentation, which includes project updates and guidance.
Highfield Resources Ltd. (ASX:HFR) announced that it has completed a scoping study for proposed slimes crystallisation plant at its Muga project in Spain.
Highfield Resources Limited (ASX:HFR) announced that it has completed the scoping study for its Sierra del Perdón project in Spain, which showed its potential to be a long-life, high-margin project with low upfront capital costs to production.
Mining Weekly reported that Indian potash imports are set to increase to a four-year high of about five million tonnes in the 2015 financial year, which began on April 1.
Highfield Resources just released the maiden resource estimate for its second potash project in Spain. That adds another promising property to the company’s roster and further extends its reach in Spain.
Highfield Resources Ltd. (ASX:HFR) announced it has completed a definitive feasibility study at its Muga project in Spain. According to the study, Muga will produce 1.12 million tonnes of muriate of potash (MOP) annually, generating one of the larger margins in the potash industry with a lower capital cost.
The TSXV gained steadily throughout Friday to pare morning losses, posting an overall gain for the week. Making up the top five gainers in the sector this week were Lion One Metals, Golden Dawn Minerals, Sennen Potash, GMV Minerals and Cypress Development.
PotashCorp has already expressed its disappointment with the news. It pointed out that “changing the rules midstream impacts the ability of our shareholders to earn a fair return on their capital and undermines Saskatchewan’s relative competitiveness.”
Macquarie Group expects no upside for potash prices in the next four years. Specifically, it sees prices dropping to an average of $270 per tonne in the last quarter of this year, down from the current price of $305, and suggests that prices will average $250 by 2018.