martes, 19 de junio de 2018

Indian regulator approves Nutrien’s sale of stake in SQM to Tianqi

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Potash News Digest
Wednesday 20 June 2018
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The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China's Tianqi Lithium.

The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,

A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.

No surprise who the winner is.

The two separate decrees aim at making the local industry more competitive and sustainable, while while implementing rules on the collection of higher mining royalties.

It produced 4,600 tonnes of lithium more than Chile in 2017 boosted mainly by record output at Mt Cattlin and Mt Marion mines.

The companies are committed to explore for mineral deposits first in the Asian country and then the rest of the world .

However, the Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 8% in the three months to March 2018.

The Asian firm has bought a 24% stake in Chile's Sociedad Quimica y Minera (SQM), one of the world's biggest lithium producers.

Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to national security.

The world's largest potash miner said it expected to have an announcement on the matter by the end of June.

The Trump administration is strategizing to reduce import reliance for metals "critical to the economic and national security of the United States."

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