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Autor:   •  March 7, 2018  •  7,782 Words (32 Pages)  •  338 Views

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Augusta, Georgia. PotashCorp also produces merchant grade phosphoric acid (MGA) at its Aurora, White Springs and Geismar facilities, which is sold to foreign and domestic fertilizer producers and industrial customers. It further process the balance of the MGA to make solid fertilizer (DAP and MAP); liquid fertilizers; animal feed supplements for the poultry and livestock markets; and purified phosphoric acid for use in a wide variety of food, technical and industrial applications.

Moreover, the phosphate rock reserves totaled 127 million tons, which includes the proven and probable reserves of 119.2 million tons and 7.8 million tons.

PotashCorp's nitrogen segment operations include the production of nitrogen fertilizers and nitrogen chemicals. These products are used for agricultural, industrial and animal nutrition purposes. The company has four nitrogen production facilities, of which three are located in the US and one is located in Trinidad. During FY2014, the company had a total annual capacity of 4.1 million tons of ammonia; 1.5 million tons of urea; and 6.4 million tons of solutions, nitric acid and ammonium nitrate. The total production amounted to reached 3.86 million tons of ammonia, 1.04 million tons of urea and 4.8 million tons of solutions, nitric acid and ammonium nitrate.

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HISTORY

Potash Corporation of Saskatchewan Inc. (PotashCorp or ‘the company’) was established in 1975 as Crown.

The company later made its initial public offering in 1989, and was renamed Potash Corporation.

In 1990, PotashCorp acquired Saskterra Fertilizers from Husky Oil, whose main asset was a 40% interest in the Allan potash mine, in which PotashCorp already held a 60% interest. In the following year, the company made further acquisitions with the purchase of certain assets of Florida Favorite Fertilizer, which were based in Florida, Georgia, and Alabama.

The company entered into agreements with Horizon Potash, New Mexico Potash, Eddy Potash, and Mississippi Chemical to act as an exclusive sales agent for potash produced by these companies in the beginning of 1992.

In 1993, PotashCorp purchased the potash assets of Potash Company of America from Rio Algom. These included two potash mines and mill sites, one located in Saskatchewan and the other in New Brunswick, as well as a port facility at Saint John, New Brunswick.

The company acquired all of the outstanding shares of Texasgulf, which included a phosphate complex in Aurora, North Carolina, animal feed plants in three states, two industrial phosphoric acid plants, and a 50% interest in an ammonia storage terminal in Savannah, Georgia, in 1995. In the same year, the company acquired all of the outstanding shares of White Springs Agricultural Chemicals from Occidental Chemical. The primary assets of this acquisition were a phosphate mine and two chemical plant complexes in Florida.

In 1996, PotashCorp purchased phosphate production facility of Arcadian, a producer of nitrogen products in the western hemisphere. The company completed its acquisition of Arcadian in 1997.

Between 1998 and 2000, PotashCorp acquired the Potash Company of Canada, Minera Yolanda SCM, 50% of Albright & Wilson from Rhodia, and the assets of Fertilizantes Mitsui's feed production plant. In addition, the company added a new DFP facility at Aurora and acquired Farmland Industries' feed phosphate operations at Joplin, Missouri, in 2000.

The company invested $130.4 million in a leading specialty fertilizer company, Sociedad Quimica y Minera de Chile, in 2001; and in 2003, the company acquired 26% of Arab Potash (APC).

In 2004, PotashCorp expanded 82,000-ton of its purified phosphoric acid plant at Aurora, North Carolina. In the following year, the company entered into an agreement to purchase a 9.9% interest in Sinofert, a subsidiary of Sinochem.

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The company purchased an additional 10.01% of Sinochem Hong Kong Holdings (Sinofert) for $126 million in 2006. The company completed sales agreement between Canpotex and Sinofert for shipments to China in the same year.

During 2007, PotashCorp brought back 360,000 tons of previously idled potash capacity at its Patience Lake, Saskatchewan solution mine. In the following year, the company entered into an agreement with Canpotex, the offshore marketing company for Saskatchewan potash producers, and Sinofert Holdings (Sinofert), a leading fertilizer enterprise in China, on potash pricing, in 2008.

In 2009, PotashCorp obtained mining permit from the US Army Corps of Engineers allowing the company's Aurora phosphate operation to mine reserves in excess of thirty years. It also completed construction of a new $260 million sulfuric acid plant at the company's Aurora phosphate operation.

In 2010, the company purchased an additional 3% of ICL for $422 million, raising total ownership interest to 14%.

In 2011, PotashCorp's subsidiary, Canpotex, signed a contract with Sinofert Holdings to supply 630,000 tons of potash. In the same year, Canpotex signed a contract with its Indian contract customers, Coromandel International and Tata Chemicals, to supply 670,000 tons of potash.

In 2012, the company's subsidiary, Canpotex, entered into a contract with Sinofert Holdings to supply 500,000 tons of potash in the second quarter of the year 2012. PotashCorp also invested $3.5 million in the Trinidad Medical Laboratory, in 2012.

Further in 2012, the company opened first phase of New Rail Facility located at Hammond, Indiana. The company's subsidiary, Canpotex signed an agreement with Sinofert Holdings in 2012, to supply one million tons of potash in the first half (January-June) of calendar year 2013.

Subsequently in 2012, PotashCorp, along with the Province of Saskatchewan and the University of Saskatchewan established the Global Institute for Food Security in Saskatoon. The company's subsidiary, Canpotex signed an agreement with Sinofert, in 2012, to supply one million tons of potash in the first half of FY2013. PotashCorp's mining and processing agreement with Mosaic at Esterhazy was terminated in 2012.

During 2013, the company entered into an agreement with the Indian government to supply

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