Potash Corp. of Saskatchewan Inc. reported a 12-per-cent drop in second-quarter earnings on Thursday as the company faced sinking nitrogen prices and higher costs in its potash business.
Saskatoon-based Potash Corp., which is trying to buy German potash producer K+S AG, also lowered the high end of its full-year earnings guidance due to recent fertilizer market activity. However, the company maintained its usual bullish outlook.
The chief executive of K+S AG suspects Potash Corp. of Saskatchewan Inc. will shut down much of his company’s European production if it gains control of it. Sources close to Potash Corp. dispute this notion.
It sets up an interesting debate that will grow fiercer if Potash Corp. launches a formal bid.
Potash Corp. of Saskatchewan Inc., the world’s largest fertilizer producer, scrapped a proposed takeover bid for Israel Chemicals Ltd. after opposition to the deal from workers and Israeli politicians.
“Now is not the time to pursue this opportunity,” Saskatoon, Saskatchewan-based Potash Corp. said Thursday in its first-quarter earnings statement.
Potash Corp. of Saskatchewan Inc. reported a decline in fourth quarter earnings on Thursday as the company generated weaker results from all of its nutrients and absorbed a couple of one-time charges.
Chief executive Bill Doyle noted that global fertilizer markets “paused” in the quarter in the absence of “significant immediate needs” and a lack of direction.
By Marc Davis, BNWnews.ca In spite of a flurry of headlines in recent weeks heralding a game-changing consolidation of the world’s lucrative potash mining industry, Canada’s two small aspiring potash miners are standing firm.Both Western Potash (TSX.V: WPX) and Potash One (TSX: KCL) say they are committed to building mines that will be in business for decades. In other words, they’re not for sale.
A rebounding fertilizer industry and an eye-popping $39 billion dollar bid for Potash Corp. (POT) by the world’s largest mining company, BHP Billiton (BHP), are telling signals – ones that suggest that Canada’s tiny handful of potash producers and aspiring miners are ripe plums for the picking.
A Canadian / Chinese partnership to commercialize Africa’s first modern-day potash mine may yet get the ultimate endorsement from the world’s largest mining company, BHP Billiton (NYSE: BHP), by way of a takeover bid. So says Robert Winslow, a potash analyst at one of Canada’s leading investment banks, Toronto-based Wellington West Capital Markets, in reference to Toronto-based Allana Potash Corp.