Potash

The company recorded a cash position of AUS$33.8 million as at 31 December 2019.

Gensource Potash Corp. is confident that Tugaske will reach a financial close as forecast later this summer, despite the effects of Covid-19 and the associated market upheaval.

In light of the rapid spread of Covid-19 and its significant impact on global financial markets, Tranche 2 of the Africa Finance Corp’s equity funding will be deferred to allow for the stabilisation of market and global conditions.

The two companies signed an offtake agreement for the supply of 20 000 tpy of K-Brite sulfate of potash from the Lake Wells project earlier this month.

At 31 December 2019, the company had cash of CAN$7.5 million, a positive working capital of CAN$7.2 million, and no debt.

Progress on finalising the project's feasibility study is continuing.

The project is located in the East Pilbara region of Western Australia.

The company will now focus on the San Jose lithium project in Spain.

Highfield Resources submitted the documentation for its Muga potash project in Spain on 13 March 2020.

The company is set to supply Redox with 20 000 tpy of K-Brite sulfate of potash over 10 years from the Lake Wells sulfate of potash project.

Veolia will replace existing crystallisers at the plant with new HPD crystallisation technologies designed to extract high-quality potash fertilizer from the brines of the Dead Sea.

K+S is to be developed into a supplier of fertilizers and specialties. No sale of shares in the new Bethune potash plant in Canada is planned.

Regular operations have been discontinued while Nutrien investigates the incident.

A damage estimate has not been given and there were no reported injuries due to this incident.

The potash production and export company recorded a 1% increase in revenue compared to 2018, while its production volume decreased by 3%.