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Western Potash Stock Price Takes Hit on News of Chinese Investment
Jun. 04, 2013 04:33AM PST
Potash Investinghe Financial Post reported that Western Potash’s stock prices tumbled in Monday trading as much as 12 percent, pulled down by news of their sale of a major stake in the company to a Chinese JV firm.
The Financial Post reported that Western Potash’s stock prices tumbled in Monday trading as much as 12 percent, pulled down by news of their sale of a major stake in the company to a Chinese JV firm.
As quoted in the Financial Post report:
The deal is a sign of China’s interest, as the world’s largest consumer of potash, in producing the crop nutrient outside its borders. China is one of the biggest potash buyers from Canpotex Ltd and Belarusian Potash Company (BPC), which sell the nutrient on behalf of North American and Russia/Belarus producers respectively.