The potash space was dominated by Russia’s Uralkali (MCX:URKA) and Belarusian Potash Company until the pair broke off their alliance in July 2013. The market has faced difficulties since then, with the potash price dropping alongside company share prices.
Still, a fair number of potash producers have managed to stay afloat, and exploration companies continue to develop projects in preparation for a market upturn. With that in mind, we’ve put together a list of potash companies listed on the TSX and TSXV. All had market caps of at least $15 million as of May 5, 2017.
Let us know in the comments if we’ve missed a company you think should be included. And if you want to learn more about potash companies, you can read this list in conjunction with the previously published ASX-listed Potash Companies.
TSX-listed potash companies
Potash Corporation of Saskatchewan (TSX:POT,NYSE:POT)
Market cap: $18.93 billion
Potash Corporation of Saskatchewan, better known as PotashCorp, is the world’s largest fertilizer company in terms of capacity and is part of Canpotex, an export company that handles overseas sales for Saskatchewan’s major potash producers. The company’s most recent news came in April, when it reported Q1 earnings of $0.18 per share. It also increased its full-year guidance to $0.45 to $0.65 per share.
Market cap: $17.35 billion
Agrium, another one of the world’s major potash companies, is also part of Canpotex; it supplies potash, phosphate and nitrogen fertilizers to farmers worldwide. In 2016, Agrium and PotashCorp announced a proposed merger and they continue to work through the regulatory process. The transaction is expected to close in mid-2017.
Western Potash (TSX:WPX)
Market cap: $84.31 million
Western Potash is a development-stage company working to build a solution mine at its Milestone potash project in Saskatchewan. In February, the company signed a LOI with China BlueChemical regarding an offtake agreement for Milestone. Milestone is close to Mosaic’s (NYSE:MOS) Belle Plaine mine, which is one of the largest producing potash solution mines in the world.
Verde Agritech (TSX:NPK)
Market cap: $30.91 million
Verde Agritech is focused on the production of fertilizers, namely potash, in Brazil. The company continues to evaluate the potential of its land holdings for fertilizer opportunities, and is also advancing its Cerrado Verde project towards production. In February, the company was granted an environmental license for Cerrado Verde; it is targeting production in the first half of 2017.
Potash Ridge (TSX:PRK)
Market cap: $26.59 million
Potash Ridge is an exploration and development company focused on its Blawn Mountain project in Utah. In January, the company announced an updated prefeasibility study for Blawn Mountain. Potash Ridge updated the prefeasibility study for the project again in April, reporting that it also includes 19.4 million tons of measured and indicated alumina resources contained in alunite ore.
Karnalyte Resources (TSX:KRN)
Market cap: $20.82 million
Karnalyte is a development and production company whose main asset is its Wynyard carnallite project in Saskatchewan. Last December, the company announced the results of an optimization program that was conducted at Wynyard from May to November 2016. This year the company has released little news.
IC Potash (TSX:ICP)
Market cap: $16.56 million
IC Potash has developed a low-cost method of producing sulfate of potash (SOP) from its Ochoa project in New Mexico. The property consists of 98,500 acres of federal right leases and prospecting permits, and IC Potash has completed a feasibility study that recommends it move forward at the project. In March, the company announced the creation of a new research and development subsidiary that will focus on the application of organic fertilizers for cannabis production.
TSXV-listed potash companies
Gensource Potash (TSXV:GSP)
Market cap: $49.42 million
Gensource Potash is focused on its Lazlo and Vanguard projects in Saskatchewan. Last year, the company signed a memorandum of understanding to create a joint venture company with Essel Group Middle East. The purpose of the joint venture is to advance Vanguard through to production. In April, Gensource executed a shareholder agreement with Essel to create the joint venture company; both companies also appointed directors to the company. The company’s first step will be to complete a feasibility study for Phase 1 of the Vanguard project.
Encanto Potash (TSXV:EPO)
Market cap: $37.62 million
Encanto Potash has worked with First Nations for multiple years to establish minerals rights throughout Saskatchewan, including a 100-percent interest in the 61,400-acre Muskowekwan potash project on Muskowekwan First Nations reserve lands. In March, Encanto confirmed the incorporation of the Encanto Potash Trading Company to trade potash sourced from producing properties that are currently underutilized.
This is an updated version of an article originally published by the Investing News Network in 2015.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Gensource Potash is a client of the Investing News Network. This article is not paid-for content.