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(Dave Bedard photo)
Crops, Markets

SQM stock plummets after directors from PotashCorp resign

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Reuters — Shares in Chilean fertilizer group SQM plunged Wednesday after three board representatives from Saskatchewan’s PotashCorp resigned in protest at its handling of an illicit payments scandal that has shaken the Chilean establishment. SQM vice-chairman Wayne Brownlee, the chief financial officer at PotashCorp, and two directors stepped down late Tuesday after clashing with the
Crops

Chile’s campaign finance scandal fells fertilizer firm’s CEO

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Santiago | Reuters — Fertilizer company SQM has fired its CEO after it became embroiled in an election campaign financing scandal that has rocked the Chilean establishment, tainting business leaders and politicians with close links to the 1973-1990 dictatorship of Augusto Pinochet. SQM, which has the rights to some of the world’s largest reserves of
(Dave Bedard photo)
Crops, Markets

PotashCorp buys stake in Heringer to expand in Brazil

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Sao Paulo | Reuters — Potash Corporation of Saskatchewan, the world’s largest fertilizer company by market value, agreed on Monday to pay about $69.8 million for a 9.5 per cent stake in Brazilian rival Fertilizantes Heringer SA, the latest effort by PotashCorp to grow in Latin America’s largest economy. The deal, which is expected to
(Dave Bedard photo)
Crops, Markets

PotashCorp’s profit beats on higher potash sales

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Reuters — PotashCorp, the world’s biggest fertilizer company by market capitalization, reported higher-than-expected quarterly profit on strong potash sales, but its 2015 outlook disappointed. Saskatoon-based PotashCorp sold 2.5 million tonnes of potash, the most ever in a fourth quarter and up 42 per cent year over year. Its average realized potash price was $284 per
(Dave Bedard photo)
Crops, Markets

PotashCorp reviews stakes in fertilizer firms with eye on control

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Reuters — Saskatchewan’s PotashCorp, the world’s largest fertilizer producer, is sizing up its chances of gaining control of four companies in which it holds minority stakes, CEO Jochen Tilk said on Wednesday. Saskatoon-based PotashCorp is reviewing its $4.5 billion worth of investments in China’s Sinofert Holdings, Israel Chemicals, Jordan’s Arab Potash and Chile’s SQM. “The
(Dave Bedard photo)
Crops, Markets

PotashCorp hurt by fall in income from overseas investments

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Reuters — Saskatchewan-based PotashCorp has narrowed its full-year earnings forecast range and reported a lower-than-expected quarterly profit as income fell from its overseas investments. The price of potash has plunged year over year, triggered by the breakup last year of trading partnership Belarusian Potash Co. that created more competition among producers. PotashCorp, the world’s biggest
Crops

PotashCorp fined for mine worker’s death

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Reuters — A Saskatchewan court has fined PotashCorp $280,000 following a mine worker’s death in 2012 when a machine used to move ore to conveyor belts backed over him. A Provincial Court judge in Saskatoon fined PotashCorp on Tuesday after the world’s biggest fertilizer company pleaded guilty to one charge of failing to comply with
Crops

Mosaic profit falls on weak China sale

reuters / Mosaic’s quarterly operating profit fell 30 per cent and the fertilizer producer said it expects potash margins to fall further in its current quarter, a reflection of its recent low-priced contract with China. China has been aggressively negotiating for lower potash prices. In December, Sinofert Holdings signed a deal with Canpotex — the
Crops, News

Canpotex signs China potash supply deal at discount

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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.

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