5 Top Phosphate and Potash News Stories of 2019

What were the top phosphate and potash news stories of 2019? With the space looking positive, these headlines drew readers in.

While 2019 has not been a steady year for potash or phosphate, production of the agricultural resources is expected to grow in 2020.

Between the two commodities, what were the top headlines in 2019? We’ve compiled a list of our five most popular phosphate and potash news stories of last year — as the list below shows, news about project advancements and market conditions took the spotlight.

Read on to see what phosphate and potash news in 2019 grabbed the attention of our audience.

1. Fertilizer Industry Braces for Loss of Potash Tax Credit

First on our list of top phosphate and potash news stories of this past year is a piece on how the Canadian fertilizer sector was up in arms after the Saskatchewan government made no public consultations before deciding to scrap C$117 million in potash tax credits.

The tax credit system, which featured a potash production credit, had been in place since 1990 and was established to help offset some of the costs producers were bearing while the market was in a downturn.

Read on to learn more about what those representing the Canadian fertilizer sector had to say.

2. Sirius Minerals Finds New Backer for UK Potash Project

Back in March of this year, UK-based potash developer Sirius Minerals (LSE:SXX,OTCQX:SRUXY) made news when it took steps to advance development at its world-class potash mine in the UK after finally securing a backer for the multibillion dollar project.

The conditional proposal from an unnamed major global financial institution was for US$3 billion; the funds were to be used to further develop the company’s flagship project: the Woodsmith mine, located beneath a national park in North Yorkshire, UK. At the time of the announcement, shares of Sirius rose up by as much as 11.03 percent.

Click here to read the details of the financing and more on how the company was affected.

3. K+S Responds to Weak Market by Reducing Potash Production

Third on our list of top phosphate and potash news stories of this past year is an article surrounding the response from German potash producer K+S (ETR:SDF) to weakness in the potash market.

K+S announced it would be reducing production of the crop additive by lowering potassium chloride production by as much as 300,000 metric tons by the year’s end.

The move will reduce the company’s earnings before interest, taxes, depreciation and amortization by as much as 80 million euros.

Continue reading to see what the company had to say about the move.

4. Kalium Lakes Secures AU$102 Million for Potash Project

Potash production could become a reality at Kalium Lakes’ (ASX:KLL) Beyondie sulfate of potash (SOP) project thanks to an AU$102 million funding deal with German KfW IPEX-Bank.

Kalium Lakes’ Beyondie project is located in Western Australia and is slated to be the country’s only SOP project once it enters the output phase.

SOP is a high-potassium fertilizer used to strengthen and ripen flower blooms, as well as to prevent disease, pests and weather damage.

Find out more details on the financing and what the company hopes to achieve by clicking here.

5. Explorers Move Forward as Global Phosphate Appetite Rises

Our final top story of 2019 addresses the phosphate market and how some companies are moving forward in the sector as supply dwindles as a result of China cracking down on pollution and questionable mining practices.

Two such companies are Avenira (ASX:AEV) and New Zealand explorer Chatham Rock Phosphate (TSXV:NZP), both of which are steadily advancing their respective phosphate projects.

At the time of this article in March, Africa-focused agricultural mine developer Avenira had moved closer to expansion at its Senegal-based Baobab phosphate project, following the release of a positive feasibility study.

Read on to discover more about the companies and the details of their phosphate projects.

What were your favorite phosphate and potash news stories in 2019? Let us know in the comments.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Nicole Rashotte, hold no direct investment interest in any company mentioned in this article.

Featured
Western Resources Corp. is pleased to announce that Western Potash Corp. the company’s wholly-owned subsidiary, has received key findings from its upcoming NI 43-101 report for its Milestone Phase I Project in southern Saskatchewan. The Report is based on the expansion of the mine life from 12 years to 40 years and the update of the mining plan. The technical Report is being prepared by March Consulting Associates ...

Western Resources Corp. (TSX: WRX) ("Western" or "the Company") is pleased to announce that Western Potash Corp. ("WPC"), the company's wholly-owned subsidiary, has received key findings from its upcoming NI 43-101 report ("Report") for its Milestone Phase I Project ("The Phase I Project") in southern Saskatchewan. The Report is based on the expansion of the mine life from 12 years to 40 years and the update of the mining plan.

The technical Report is being prepared by March Consulting Associates Inc. ("March"). March is an engineering and project management provider with extensive experience in delivering mining projects across Saskatchewan.

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Western Resources Corp. is pleased to report on the overall status of and progress on the Company’s Milestone Potash Phase 1 Project operated by the Company’s wholly-owned subsidiary, Western Potash Corp. and the Company’s gradual phase out of its real estate investments from its business model in order to improve its financial position and refocus its efforts on the successful completion of the Project. Since ...

Western Resources Corp. (TSX: WRX) (the "Company") is pleased to report on the overall status of and progress on the Company's Milestone Potash Phase 1 Project (the "Project") operated by the Company's wholly-owned subsidiary, Western Potash Corp. ("Western"), and the Company's gradual phase out of its real estate investments from its business model in order to improve its financial position and refocus its efforts on the successful completion of the Project.

Since suspending construction of the Project in May of last year, Western has continued advancing and optimizing its mining operations. These are key to securing the remaining project financing required to complete the balance of plant construction. From April 28, 2020, when hot mining started, until its suspension on May 28 this year, Western's operation team has accumulated extensive experience and collected valuable mining data relevant to the application of its innovative solution mining technology. After extensive analysis of the data, and with the help of a number of leading solution mining experts, Western is developing an optimized solution mining plan.

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Potash is a potassium-bearing nutrient essential for growing healthy, high-yield crops, and there are four kinds that market participants should have on their radar.

These minerals are found in large evaporate deposits from ancient lakes and sea beds, or in rock formations. The top potash-producing countries include Canada, Belarus and Russia.

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