TSXV:AAA.P - Post by User
Comment by
Fertimanon Aug 12, 2013 1:24pm
201 Views
Post# 21664024
RE: Israel Chemicals considering potash mine in Ethiopia Site is cheaper on balance than other places worldwide, closer to company’s main markets.
RE: Israel Chemicals considering potash mine in Ethiopia Site is cheaper on balance than other places worldwide, closer to company’s main markets.Well... would you look at that!!
This is making things interesting........ Can they supply 4 mmt / year??
The company will be required to return its Dead Sea potash concession to the state in 2030, which will leave the company scrambling to find a replacement for 4 million tons of production capacity for a mineral that provided 63% of its operating profit in 2012.
ICL already holds a 640 square kilometer potash mining concession in Spain's Catalan region. Currently, the company exploits only 64 square kilometers of that concession, but estimates that the site has reserves that would support production of up to 10 million tons of potash per year. However, Ethiopia is closer to two key markets for ICL, China and India. Moreover, the demand for potash in the local African market, which is currently 1 million tons per year, is expected to reach between 5 million and 7 million tons per year by 2020.