China Expands Stake in Uralkali

Mining.com reports that the Industrial Commercial Bank of China (ICBC) and China Construction Bank have acted as lenders of a $530 million loan deal between China and potash miner Uralkali (LSE:URALL), the world’s biggest producer of the commodity.

As quoted in the market news,

The news comes less than a month after Belarusian Potash Company (BPC), Uralkali former partner, finished setting supply prices with Beijing, which came below the target sought by both the embattled Russian miner and the North American Canpotex consortium.

ING Bank, Societe Generale, Nordea Bank, Commerzbank, IKB and Natixis also took part in yesterday’s deal as lenders.

Click here for the full Mining.com report