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Reuters reported that Potash Corp. (NYSE:POT) says the time it takes to build a potash mine means no new mines will start for five years.
Reuters reported that Potash Corp. (NYSE:POT) says the time it takes to build a potash mine means no new mines will start for five years.
As quoted in the market news:
Several companies are planning new mines for potash, a crop nutrient, in Potash Corp’s home base of Saskatchewan in Western Canada, led by Anglo-Australian miner BHP Billiton and Germany’s K+S AG. But Doyle said it takes an “enormous amount of time” to develop a new potash mine and downplayed predictions of excess potash production capacity.