GFM Network News

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Vale sells fertilizer unit to Mosaic

Brasilia/Sao Paulo | Reuters — Vale SA’s US$2.5 billion sale of its fertilizer business to Mosaic Co., the latest step in the Brazilian iron ore miner’s strategy to reduce debt, also makes it the U.S. company’s biggest shareholder. Mosaic, which made the deal to improve its access to Brazil’s vast agricultural markets, will pay $1.25

Shippers suggest amendments to beef up Fair Rail Freight Service Act

The worst rail service in three years prompted shippers to propose amendments to toughen Bill C-52, the Fair Rail Freight Service Act, to help balance their relationship with the railways, says Wade Sobkowich, executive director of the Western Grain Elevator Association (WGEA). “Service is very poor on both railroads,” he said in an interview March

Brazil potash deposit has 18 years of country’s needs

Reuters / A Brazilian fertilizer deposit owned by Canada’s Brazil PotashCorp has potash reserves equal to at least 18 years of Brazil’s potassium-fertilizer needs, a source with direct knowledge of the project told Reuters. The mine project has total potassium reserves of about 500 million tonnes of which at least 125 million, or a quarter,

Brazil’s Vale backs out of Argentine potash deal

sao paulo /reuters Brazilian miner Vale SA said March 11 it is suspending investments in its $6-billion Rio Colorado potash project in Argentina that has been plagued with cost overruns. The company said in a press statement that the project was not “in line with Vale’s commitment to discipline in capital allocation.” Vale had put

Canpotex signs China potash supply deal at discount

Three North American potash producers have struck a six-month agreement to supply the crop nutrient to a subsidiary of China’s Sinofert Holdings Ltd. at a steep discount of US$70 per tonne from the last contract price. Canpotex Ltd., the offshore sales agency for PotashCorp of Saskatchewan, Mosaic Co. and Agrium Inc. — said on Dec.

BHP in no rush to build potash mine

Reuters / BHP Billiton says it won’t decide soon on whether to build the world’s biggest potash mine in Western Canada, a project some say would exacerbate a global glut of the fertilizer. In late August, BHP pushed back to at least June 2013 a decision on building an eight-million-tonne mine at Jansen, Sask., but

Rail bill still coming, minister insists

Transport Minister Denis Lebel says long-promised legislation to balance the market power of the railways and their customers will be introduced this fall. Shippers have expressed concern that a deputy minister shuffle will delay the legislation until next year, when it could be sidelined by a rail costing review already scheduled for 2013. They’re pushing

Bureaucratic shuffle may mean continued delay of rail bill

A shuffle at the top rank of Transport Canada has shippers worried that long-promised legislation to balance the market power of the railways and their customers will be delayed. Louis Levesque will move from deputy minister for international trade to the same post at Transport Canada Nov. 12, replacing Yaprak Baltacioglu, who will become secretary

India fertilizer giant eyes Saskatchewan potash

winnipeg / reuters Western Potash Corp., a junior mining company looking to build a potash mine southeast of Regina, says it is talking about a joint venture with India’s Rashtriya Chemicals and Fertilizers, among others. It hopes to open the $2.5-billion Milestone mine by 2016 and eventually produce 2.8 million tonnes of potash annually. “We

Canada’s role in meeting humanity’s biggest challenge

In 40 years’ time the world will need to have increased global food production and supply by 100 per cent to provide adequate nutrition for its nine billion or more inhabitants. This implies an annual growth in agricultural productivity of 2.5 per cent, from the same or less land. Over the past three decades, despite