All posts by mickeybarb@charter.net

Gensource Extends Offer Date

News, News Briefs, Potash, Saskatchewan

Gensource Potash Corp., Saskatoon, said on Jan. 25 it has extended its non-brokered private placement for gross proceeds of up to $10 million (GM Jan. 15, p. 36), which was to close on or about Jan. 25, to on or about the second week of February. The company said the move was made to accommodate investors.

The company intends to use the net proceeds from the sale of the offering to advance engineering and construction activities at the company’s Tugaske Project, and for general corporate and working capital purposes.

The Andersons Adds Intrepid’s Organic MOP at Waterloo Facility

News, News Briefs, Potash Muriate, Specialty

The Andersons Inc., Maumee, Ohio, said on Jan. 25 it has expanded its organic storage in Waterloo, Ind., to meet the growing demand for bulk organic nutrients in the Eastern Cornbelt and Midwest. Through a partnership with Intrepid Potash Inc., Denver, the company is now selling OMRI-listed granular muriate of potash (MOP 0-0-60) from its Waterloo facility.

“Intrepid is excited to partner with The Andersons in providing sustainable, high-quality organic nutrient products for organic growers in the Eastern Cornbelt,” said Alex Uhls, Intrepid Organic Ag Manager.

“We are excited about this partnership to further our support for organic agriculture,” said Sarah Pirolli, Vice President and General Manager of The Andersons Plant Nutrient segment. “Our Waterloo facility is the only organic MOP bulk warehouse in the Midwest. This asset allows us to grow and provide more options for producers who are looking to source their organic plant nutrient needs.”

Other organic-approved products currently available at Waterloo include The Andersons NutraLime ® OP, NutraSoft ® OP, Humic DG™, Black Gypsum DG ®, and SmartPhos ® DG Natural, as well as Chilean Nitrate, organic sulfur, and organic boron.

The Andersons said it is working to add more organic products and services in 2021 to better serve organic producers.

Sprea Misr Announces Sulfuric Acid Project

Egypt, News, News Briefs, Sulfuric Acid

Egyptian plastics and chemicals manufacturer Sprea Misr has announced plans to build a new 182,500 mt/y sulfuric acid plant in Ramadan City, Egypt, tentatively set to commission in first-quarter 2022.

Misr on Jan. 20 awarded a contract to Nuberg EPC to design and build the 500 mt/d plant. The facility is expected to utilize the Double Contact Double Absorption (DCDA) production process, capable of outputting high-grade sulacid products suitable for use in complex fertilizers. The facility will include an associated five megawatt steam-based electricity generation plant to power the facility.

The Misr facility will be Nuberg’s fourth project in Egypt, including one prior sulfuric acid plant in Alexandria. Nuberg has delivered at least five sulfuric acid projects worldwide.

Brazil Rushes to Appease Truckers; Nationwide Strike Called for Feb. 1

Brazil, Featured, News

Brazil’s government is mulling reducing taxes on diesel to appease truckers and prevent a strike that could derail transportation of a record soybean harvest, according to a Bloomberg report.

Truckers in Latin America’s largest economy have been planning a strike for Feb. 1, and calls have gained steam over the past few days as state-run oil company Petrobras raised diesel prices. On Wednesday, Jan. 27, the National Confederation of Transport and Logistics Workers urged its 800,000 members to join the stoppage. In Sao Paulo, South America’s largest city, about 50 trucks planned to gather at a key bridge to call attention to the walkout.

“We recognize the value of truckers for our economy and we appeal to them to not go on strike as everybody will lose,” President Jair Bolsonaro told journalists in Brasilia on Wednesday.

Bolsonaro, who spoke about the potential tax cuts as he left the Economy Ministry for an off-schedule meeting, added that such a measure would not be easy to approve. The government is trying to lower spending after a multi-billion dollar stimulus package to boost the economy amid the pandemic.

While the size of the stoppage is unclear – truckers do not have a single representative and threaten to strike almost every year – Brazil is largely dependent on road transportation. In 2018, key highways connecting states were blocked, paralyzing the country in a matter of days, disrupting food, fuel, and other cargo transportation in major cities.

The timing could also be disastrous for the agriculture superpower, as soybeans are on the verge of being loaded through the nation’s ports. Brazil, the world’s largest exporter of soybeans, is starting to collect an all-time-high production in the coming weeks after record plantings by farmers encouraged by insatiable Chinese demand. A nationwide strike would prevent the oilseed from being shipped at ports at a time that similar movements have emerged in Argentina, also a key-exporter of soy products.

Soybean futures have jumped 18 percent since early December in Chicago on concerns that global supplies will be tight amid robust Chinese demand.

Co-Alliance, Harvest Land to Merge on Feb. 1

Eastern Cornbelt, Featured, News

Two Indiana cooperatives – Co-Alliance LLP in Avon and Harvest Land Cooperative in Richmond – announced on Jan. 22 that the boards and membership of both co-ops have voted overwhelmingly to merge the two companies. Harvest Land and Co-Alliance reported last August that they were pursuing a merger to bring efficiencies to the agronomy, energy, grain, swine, and animal nutrition services of each company (GM Aug. 21, 2020).

The merger will take effect on Feb. 1, 2021, with the new organization headquartered in Avon and operating under the Co-Alliance Cooperative Inc. name. Kevin Still, current President and CEO of Co-Alliance, will take over as President and CEO of the merged cooperative, while Harvest Land CEO Scott Logue will become the Executive Vice President.

“Co-Alliance Cooperative brings together two extremely strong cooperatives with a successful history of servicing member-owners at the highest level,” Still said. “I anticipate this strong combination will provide synergies and resources that will enhance our customers’ experience and prepare us to meet the needs of our future stakeholders.”

The merged company will serve customers in Indiana, Ohio, Michigan, and Illinois from some 90 locations, and will operate four core divisions in Agronomy, Energy, Grain, and Swine and Animal Nutrition. The combined organization will have more than 1,000 employees and $1.3 billion in annual sales. Co-Alliance and Harvest Land are already partners in United Agronomy Services LLP, a full-service agronomy retailer in Summitville, Ind.

“Merging Co-Alliance and Harvest Land enriches our ability to embrace the cooperative spirit by focusing on our member’s needs and investing in our local communities,” said Logue. “This historic merger creates a cooperative that can proactively navigate the ever-changing industries we service and provide an environment in which our customers and employees thrive.”

Harvest Land currently offers agronomy, energy, grain, and feed products and services from some 40 locations in Indiana and Ohio. Co-Alliance operates agronomy, propane, fuels, grain, seed, hog production, and feed businesses from more than 50 locations in Indiana, Michigan, and Ohio.

Pemex Fertilizantes Extinct

Mexico, News, News Briefs

Pemex Fertilizantes, a subsidiary of oil company Petroleos Mexicanos (Pemex), is now “extinct,” due to its merger into another subsidiary, Pemex Transformacion Industrial, according to a declaration appearing on Jan. 27 in Mexico’s Official Gazette of the Federation.

The decree became valid on Jan. 1, 2021. The Pemex Board of Directors made the decision in December. The declaration said Pemex Fertilizantes was formed in 2015 due to the need to modernize the business.

Pemex COVID-19 Deaths Top 450

Mexico, News, News Briefs

Oil company Petroleos Mexicanos (Pemex) reported on Jan. 27 that its worker death toll due to COVID-19 is now 453. The company, which releases a daily report on the virus, reported that 18,388 of its workers, retirees, and their family members have been confirmed as having had the virus. Some 277 are hospitalized, with 42 in intensive care. Some 208 patients who were in intensive care have returned home.

Quebec Cargo-Handler Penalized C$675,000

Canada, News, News Briefs

Cargo handler Compagnie d’Arrimage de Québec Ltée. on Jan. 21 pleaded guilty in the Court of Quebec in the District of Québec to one count of contravening the Fisheries Act due to a 2017 incident in which 500 kilograms of fertilizer spilled into the St. Lawrence River. The company was fined C$100,000.

In addition to the fine, the Court ordered the company to pay an amount of $575,000. These amounts will be directed to the Government of Canada’s Environmental Damages Fund. As a result of this conviction, the company’s name will be added to the Environmental Offenders Registry.