SQM
Chemical & Mining Co. of Chile Inc.NYSE
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  • Fri, Sep. 9, 10:03 AM
    • China’s Tianqi Lithium, the country’s largest lithium producer, says it plans to bid for a 23% stake in Chilean rival Sociedad Quimica y Minera (SQM -2.8%).
    • Tianqi says it signed a non-binding offer with Oro Blanco to bid for its stake in Pampa Calichera, which in turn holds 23% of SQM.
    • Chile's government has said it would not block a foreign takeover of SQM, and Tianqi's interest in gaining lithium supply may arouse worries that China could corner the market, but the U.S. Geological Survey estimates 14M tons of reserves of lithium globally, more than 400 years of supply based on last year’s production.
    • Tianqi and SQM, together with U.S.-based Albermale (ALB -1.5%) and FMC Corp. (FMC -1.9%), dominate the global lithium market.
    | Fri, Sep. 9, 10:03 AM | 1 Comment
  • Tue, Aug. 30, 10:21 AM
    • Potash Corp. (POT +12.3%) and Agrium (AGU +6.6%) resume trading after a halt for volatility following a Bloomberg report that the companies are in advanced merger talks.
    • A combination reportedly could be announced as soon as next week, although no final decisions have been made.
    • Related stocks also are ticking higher: MOS +7.3%, CF +4.4%, IPI +13.7%, SQM +3.1%, UAN +3.3%, TNH +2.3%, ICL +3.9%.
    | Tue, Aug. 30, 10:21 AM | 37 Comments
  • Mon, Mar. 7, 10:45 AM
    • Chile's government would not block a foreign takeover of lithium and potash producer SQM (SQM +2.8%), the country's mining minister says.
    • A stake in SQM is up for grabs after an indirect shareholder, Oro Blanco, invited buyers in December to make an offer for its entire holding in Pampa Calichera; Oro Blanco holds ~88% of Pampa Calichera, which in turn owns ~20% of SQM.
    • Potash Corp. (POT +3.7%) already owns ~30% of SQM and adding another 20% stake may give it control pf the company; China's CITIC, CLSA Capital Markets and Israel Chemicals (ICL +2.7%) also are believed to have interest in the Chilean company.
    • SQM's access to vast nitrate and lithium reserves in northern Chile is expected to attract several suitors.
    | Mon, Mar. 7, 10:45 AM | 1 Comment
  • Tue, Jan. 5, 5:49 PM
    • Potash Corp. (NYSE:POT) should consider a takeover of Intrepid Potash (NYSE:IPI), Scotiabank's Ben Issacson believes, but not for another 9-12 months due to antitrust concerns; once the Legacy project in Saskatchewan has ramped up, POT should be able to show regulators that potash supply to the U.S. is more diverse than it is now, the analyst says.
    • Isaacson thinks POT could offer a ~50% premium to IPI's recent trading range, which would mean it is buying capacity at a 40%-plus discount to what it previously offered K+S.
    • The analyst also believes POT and Israel Chemicals (NYSE:ICL) are top candidates to pursue fertilizer producer SQM; for POT, "consolidation via Intrepid or diversification via SQM both achieve a similar objective: managing exposure to the potash market," Isaacson says.
    | Tue, Jan. 5, 5:49 PM | 16 Comments
  • Nov. 18, 2013, 4:12 AM
    • Russian billionaire Mikhail Prokhorov - owner of the Brooklyn Nets - has agreed to acquire a 21.75% stake in Uralkali (URALL), the world's biggest potash miner, from the company's main owner, Dagestani tycoon Suleyman Kerimov.
    • Kerimov and his partners own a third of Uralkali, while China Investment Corp, China's sovereign wealth fund, purchased a 12.5% holding in September.
    • Uralkali caused turmoil in the potash markets after it ended its joint venture with Belarusian state-owned miner Belaruskali in July. The JV, called Belarusian Potash Co, controlled around 40% of the global market and so had a major influences on prices.
    • Following the breakup, Belarus arrested Uralkali CEO Vladislav Baumgertner in August, since when he has been in jail or under house arrest. (Previous)
    • Related tickers: POT, MOS, AGU, SQM, IPI.
    • Related ETFs: MOO, CROP, PAGG, VEGI.
    | Nov. 18, 2013, 4:12 AM | 6 Comments
  • Oct. 16, 2013, 5:59 PM
    • SQM, Chilean potash producer and exporter of iodine and lithium, has sunk to nearly its cheapest valuation in five years, which analysts say allows Potash (POT), which already owns 32% of the company, its best chance in years of fully taking over.
    • Julio Ponce, also a 32% owner, fended off POT’s 2006 attempt to wrest control of SQM but may become a more willing seller as a stock rout, a trading investigation and further turmoil in the potash industry pressure his finances.
    • While POT’s own stock has dropped, purchasing SQM would allow it to fulfill its strategy of taking control of companies in which it holds stakes.
    | Oct. 16, 2013, 5:59 PM