Potash miner Prospect Global Resources (PGRX +17.7%) won't open its first mine until at least...

Potash miner Prospect Global Resources (PGRX +17.7%) won't open its first mine until at least 2015, but the upstart U.S. company is shaking up the fertilizer industry by chipping away at Canpotex's near-monopoly. "We think Prospect Global is the best potash investment opportunity in North America," COR Capital says. "We like the geology, we like the location and the team they've put together."

Comments (1)
  • jacobtr
    , contributor
    Comments (855) | Send Message
    Poorly thought out article. Consider:
    1) POT and MOS have been mining in NA for decades and have far more cash than they know what to do with. If there were greenfield projects in their backyard that made economic sense, they would have acquired them.
    2) This mine will not be operational until AT LEAST 2015, and likely later than that, if it ever gets done. It will take another 3 years minimum to ramp to full production.
    3) At full production the mine will be about 3% of global capacity.


    And yet this potential mine with its unenforcable contract with China is supposedly the reason for weak potash prices today. Are Chinese farmers just going to wait until 2016 or 2017 or later to grow crops?
    4 Feb 2013, 10:35 AM Reply Like
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