Kassel, Germany-Potash producer K+S AG and an unidentified partner may spend US$2 billion on a new greenfield potash mine, according to a recent report by Bloomberg, which interviewed K+S CEO Norbert Steiner. K+S would reportedly contribute $1 billion to the 50-50 venture, which would have an annual capacity of 2 million mt. Steiner was quoted as saying that talks were well-advanced and that he hoped to have more details in the foreseeable future. He added that he believes potash would likely rise in price to $300/mt by the end of the year, up from $180-$190/st at the start of the year. K+S had not returned inquiries at presstime.
Transparency Across the Fertilizer Value-Chain