Potash Miners Seek to Expand as Demand for the Mineral Grows

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Jul 05, 2023, 09:00 ET

FinancialBuzz.com News Commentary

NEW YORK, July 5, 2023 /PRNewswire/ -- Potash is a valuable mineral that is widely used in the production of fertilizers, as well as in various industrial processes. It is a naturally occurring salt that contains potassium in a water-soluble form. Potassium is an essential nutrient for plant growth, and therefore, potash plays a vital role in agriculture as fertilizers containing potash help to improve crop yields and increase plant resistance to disease and pests. Potash also helps to improve the quality of crops by enhancing their flavor, color, and texture. As a result, the market value projections for potash are positive, with the global demand for potash expected to increase due to the growing population and the need for increased food production. And, according to data published by the Business Research Company, the global potash market size will grow from USD 22.04 Billion in 2022 to USD 23.03 Billion in 2023, at a compound annual growth rate (CAGR) of 4.5%. Sage Potash Corp. (OTC: SGPTF) (TSX-V: SAGE), Nutrien Ltd. (NYSE: NTR), FMC Corporation (NYSE: FMC), Intrepid Potash, Inc. (NYSE: IPI), The Mosaic Company (NYSE: MOS)

Potash is primarily mined from underground mines, where it is extracted using conventional mining methods such as room and pillar mining, as well as cut and fill mining. The conventional mining methods involve the use of heavy equipment, explosives, and underground tunnels to extract the potash ore. These processes are expensive and can have a significant environmental impact. However, a new way of mining potash has been developed that is more environmentally friendly and cost-effective. This new method is called selective solution mining, which involves using a selective mining technique to extract only the potash mineral and leaving the unwanted minerals behind. This method involves drilling a borehole into the potash deposit and injecting a solution into the ore body to dissolve the potash. The solution is then pumped to the surface, where the potash is separated from the solution. Selective solution mining has many advantages over traditional mining methods, including lower costs, less environmental impact, and higher recovery rates. This method is also safer for miners as it involves less exposure to dangerous working conditions.

Sage Potash Corp. (OTCQB: SGPTF) (TSX-V: SAGE) just announced breaking news that, "it has been approved and commenced trading of its common shares on the OTCQB® Venture Market ("OTCQB"), beginning today under the ticker symbol "SGPTF".

Additionally, the Company is pleased to announce that its common shares (the "Shares") are now eligible to be electronically cleared and settled in the United States through the Depository Trust Company ("DTC"). DTC Eligibility makes the Shares more accessible to investors in the United States.

The OTCQB® is a leading market for early-stage and developing U.S. and international companies. Recognized as an established public market by the U.S. Securities and Exchange Commission, the OTCQB® has helped companies build considerable shareholder value including enhanced liquidity and valuation. Investors may benefit from efficient trading through their preferred broker or financial advisor, transparent pricing with real-time quotes, and trusted disclosure that is made broadly available to broker-dealers and market data providers.

The DTC is a subsidiary of the Depository Trust and Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC Eligibility incorporates an electronic method of clearing securities, speeding up the receipt of stock and cash, and thus accelerates the settlement process for certain investors. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.

The Company's common shares will continue to trade on the TSX Venture Exchange under the symbol "SAGE.V".

Sage Potash CEO, Peter Hogendoorn, commented, 'I am pleased to announce that Sage Potash common shares are now eligible for DTC, following the initiation of trading on the OTCQB Market. This significant development aligns with our capital markets strategy and will enhance the efficiency, ease, and affordability of trading our stock for a broad range of investors across North America. It is a crucial milestone for our company, considering our involvement in the exploration and development of what could be one of the largest potash deposits in the United States.'

About Sage Potash Corp. - Sage Potash is a Canadian company vested solely in the Sage Plain Property and intends through sustainable solution mining techniques to become a prominent domestic potash producer within the Paradox Basin situated in Utah."

Nutrien Ltd. (NYSE: NTR) announced July 20th, 2022 that it has entered into an agreement to acquire Brazilian company Casa do Adubo S.A. (Casa do Adubo). The acquisition includes 39 retail locations, under the brand Casa do Adubo, and 10 distribution centers, under the brand Agrodistribuidor Casal, in the states of Acre, Bahia, Espírito Santo, Maranhão, Mato Grosso, Minas Gerais, Pará, Rio de Janeiro, Rondônia, São Paulo and Tocantins. "The acquisition expands our footprint in Brazil from five states to 13 and supports growers in a key region of the world that will increasingly be relied on to sustainably increase crop production and feed a growing population, especially with the current global food insecurity challenges," said Ken Seitz, Interim President and CEO at Nutrien. "Our strong team in Brazil has successfully closed and onboarded five transactions since 2020. We expect that integrating Casa do Adubo will further enhance our ability to provide whole-acre solutions for all customers in the region while delivering quality earnings in this large and growing market." Nutrien produces and distributes approximately 27 million tonnes of potash, nitrogen and phosphate products world-wide.

FMC Corporation (NYSE: FMC) announced on March 14th, a three-year, $1.5 million investment in support of Generation Unlimited's Engaging Kenyan Youth in Agriculture and Nutrition (EKYAN) program. The program will prepare youth for employment opportunities in agribusiness and improve the economic livelihoods of smallholder farmers across the country. "We are keenly aware of the food crisis devastating countries throughout Africa and the globe. Investments in youth and agriculture are necessary to strengthen agri-food systems, increase global food security and bring long-term economic stability to the region," said Mark Douglas, FMC president and CEO. "FMC is proud to be the first major corporate partner to support GenU's EKYAN program. We're excited to contribute to their work to prepare young people for a future in agriculture and make a meaningful difference in the lives of Kenyan farmers, and ultimately, the health and wellbeing of people throughout Africa."

Intrepid Potash, Inc. (NYSE: IPI) announced on March 6th, reports its financial results for the fourth quarter and full-year of 2022. Total sales of $66.7 million in the fourth quarter and $337.6 million for the full-year 2022, as potash and Trio® average net realized sales prices increased to $713 and $479 per ton, respectively. Intrepid is the only U.S. producer of muriate of potash, which is applied as an essential nutrient for healthy crop development, utilized in several industrial applications, and used as an ingredient in animal feed.

The Mosaic Company (NYSE: MOS) through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. Last month, the Company announced its combined April and May 2023 sales volumes and revenue by business unit. For the second quarter, Mosaic expects potash sales volumes toward the high end of the previous guidance range of 2.0-2.2 million tonnes, reflecting the impact of strong spring demand in North America. For pricing, Mosaic now expects realized MOP prices at the mine near the low end of our previous range of $325-$375 per tonne. The company's updated pricing guidance incorporates the recent China contract settlement of $307 per tonne. In Phosphates, Mosaic expects sales volumes to be near the low end of our previous guidance range of 1.8-2.0 million tonnes. Following strong demand for the spring season, North American customers are deferring inventory restocking to the third quarter. Realized DAP prices on a FOB basis are expected at the high end of our previous guidance range of $550-$600 per tonne. Results for the quarter are expected to reflect the capture higher-priced sales early in the quarter.

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