- Write by:
-
Tuesday, May 3, 2022 - 19:47:46
-
573 Visit
-
Print
Mining News Pro - Canada’s ample potash deposits are drawing “high levels” of interest around the world since sanctions upended global fertilizer markets.
Saskatchewan is capturing “renewed interest” in its potash resources due to disrupted supplies of the key fertilizer from Belarus and Russia, according to Bronwyn Eyre, energy and resources minister for the western Canadian province. Saskatchewan has the world’s largest potash deposits and Eyre said the provincial government is working with companies to encourage more production of the mineral and expects to see “a growing demand for new projects” in the coming years.
“We are a critical-minerals powerhouse and we can be a bigger one,” Eyre said in a phone interview.
Fertilizer markets have been in disarray since the U.S. imposed sanctions on Belarus, and from economic measures taken against Russia following its invasion of Ukraine in February. Russia and Belarus account for about 40% of global potash production and exports, according to Saskatoon, Saskatchewan-based Nutrien Ltd., while Canada is the other major source for the commonly used fertilizer that contains potassium.
Saskatchewan has roughly 1.1 billion metric tons of potassium oxide, enough to supply the world for several hundred years, according to the province’s energy ministry. Only a small fraction of that is in production, with 10 mines in the province operated by K+S Potash Canada, Nutrien and Mosaic Co. Saskatchewan produced a record 14.2 million tons of potash last year. BHP Group has a $5.7 billion project to build what will be the world’s largest potash mine in the province.
Saskatchewan expects an uptick in exploration and mining projects, though it takes awhile for new mines to get up and running, Eyre said.
“It’s a case of supply meeting demand right now,” Eyre said. “That does take some time.”
Short Link:
https://www.miningnews.ir/En/News/621204
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into ...
Several people have been killed in Liberia in an accident at an abandoned gold mine, the West African country’s mines ...
Iron ore futures edged higher on Monday, supported by hopes of further recovery in demand in top consumer China and ...
Awalé Resources (TSXV: ARIC) stock soared on Monday after the Newmont-backed gold explorer reported outstanding assay ...
Iron ore futures tumbled in Singapore, extending a stretch of volatile trading amid deepening anxiety over Chinese ...
Australia’s Liontown Resources said on Wednesday it has entered a A$550 million ($363.2 million) debt facility for the ...
BHP, the world’s largest miner, has come a long way in the matter of female representation in its workforce, ...
Canada and Australia have agreed to promote shared priorities related to the extraction, processing, and refining of ...
Indian billionaire Gautam Adani’s group will source copper concentrates from Peru, Chile and Australia to kick-start its ...
No comments have been posted yet ...