The TSX Venture Exchange climbed to 670.5 on Friday following a decline in the middle of the week. Much of that gain was spurred by potash producers.
Talks between China and potash suppliers drove interest in the commodity, which is used as a fertilizer for crops. Chinese import prices for the substance operate on annual contracts, and these generally set a benchmark for potash prices throughout the year. This week saw Belarus win the first contract of 2015.
While Bloomberg reported that the contract set prices below some expectations, the contract represents continued demand for potash in China, and two potash producers are represented in this week’s top five gainers on the TSX Venture.
Overall, EPM Mining Ventures (TSXV:EPK) was the week’s top gainer, followed by Golden Dawn Minerals (TSXV:GOM), Macusani Yellowcake (TSXV:YEL), Encanto Potash (TSXV:EPO) and Wealth Minerals (TSXV:WML).
EPM Mining Ventures
At 85.19 percent, EPM Mining Ventures posted the biggest weekly gain to close at $0.25. The company is currently developing a potash project located in Southwestern Utah. The project, which sits on the Sevier Playa, will yield sulfate of potash and other minerals through a solar evaporation process. The company did not release any news to explain the increase in share price.