Mar. 27, 2015, 8:47 AM
- Israel Chemicals (NYSE:ICL) agrees to acquire Canada's Allana Potash (OTCPK:ALLRF) for C$137M (US$109M), a deal ICL hopes will accelerate development of a potash mine in Ethiopia.
- ICL already owns 16.36% of shares in Allana and would pay C$0.50/share for the portion it does not own.
- Allana's Danakhil project in Ethiopia could yield up to 1M metric tons/year of muriate of potash for 25 years.
Jun. 10, 2013, 7:07 PM
Allana Potash (ALLRF.PK), the developer of a $642M potash mine in Ethiopia, says predictions of a global oversupply of potash are overblown because forecasts include mines that aren’t yet in production and may be shelved or canceled because of rising construction costs. Cantor Fitzgerald shares the view: "The fears come from the fact that there is overcapacity, but there certainly isn’t oversupply."| Jun. 10, 2013, 7:07 PM | 2 Comments