July 29, 2008
Price of Potash Sending Producers Into $16 Billion Capital Spending Frenzy, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- Increased agricultural plantings fueled in part by worldwide demand for biofuels has been a key driver in the increase in the use of potassium-based fertilizers in recent years. Potash, a key potassium-bearing fertilizer, is experiencing worldwide increases in demand and price. The Mosaic Company (NYSE:MOS) (Minneapolis, Minnesota) is planning more than $3.7 billion in new potash mines and mill expansions in the U.S. and Canada. Leading potash miner and fertilizer producer Potash Corporation of Saskatchewan Incorporated (NYSE:POT) (Saskatoon, Saskatchewan), which claims 22% of the world's potash capacity, is in the midst of a significant expansion program at its Canadian mines and is planning in excess of $6.1 billion for new mines and mine expansions in Canada.
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SOURCE: Industrial Info Resources