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.
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 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.”
Potash Investing News examines 2014 and sees what 2015 has in store for those operating in the potash market. Overall, Spencer Churchill, an analyst with Paradigm Capital, envisions supply and demand staying relatively steady into next year.
Uralkali suffered flooding and a sinkhole at its Solikamsk-2 mine this week, prompting speculation that the company may have to reduce its output.
Potash prices have been slow to rebound a year following Uralkali’s exit from Belarus Potash Company. That could cause trouble for BHP Billiton as the miner looks for a partner for its proposed Jansen potash mine in Saskatchewan.
Potash West (ASX:PWN) announced its entry into the potash market in Germany via a joint venture with East Exploration, whereby Potash West has the right to earn up to 55% by funding early exploration. The licence applications are located in the historical South Harz potash district.
By Vivien Diniz
The Utah Division of Oil, Gas and Mining added some wind to Potash Ridge’s sails this week with its approval of the company’s notice of intention to start large mining operations at the Blawn Mountain potash project in Utah.
By Vivien Diniz
Potash prices have risen slightly, prompting PotashCorp to rescind layoffs and Uralkali to cut production to keep supporting the price.