Tampa Bay, Fla.-The Mosaic Co. has given the largest donation ?Çô $50,000 ?Çô that has been received to date this year by the Tampa Bay Region of the American Red Cross, which Red Cross officials say will allow for the expansion of services in the eight counties the region covers. David Townsend, assistant vice president for public affairs, said Mosaic has a long history of supporting local Red Cross programs annually and that the contribution was made because the company believes a strong Red Cross presence is critical to this area of Florida. “Safety, preparation, and quick response are keystones of the American Red Cross, and in times of need, they deliver,” Townsend said. “This contribution underscores Mosaic’s commitment to having a positive impact in the coastal Florida counties and communities within reach of our operations.” He noted that approximately 3,000 Mosaic employees and their families live and work in central and southwest Florida. Anna Trefethen, Tampa Bay chapter regional chief executive officer, remarked, “This most generous donation to all four chapters is a win-win for both the contributor and the American Red Cross. Support from corporations like Mosaic allows the Red Cross to respond compassionately, responsibly and effectively to community emergencies. It strengthens the preparedness of our entire population and most importantly saves lives.”
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Brazil scuttles sale of potash stake
Brasilia-Petrobras, the state-owned oil company, has reportedly reneged on Falcon Metais Ltda., a Canadian mining company, which was to buy 10 percent of a potash mine in Amazonas state, according to the local press. Brazilian officials have recently been touting the importance of domestic potash and phosphate reserves and the need for domestic companies to develop them. The deal was reportedly worth between $100-$150 million.
ACCC seeks comments on Rio Tinto acquisition
Canberra-The Australian Competition and Consumer Commission on Aug. 22 issued a Statement of Issues on the proposed acquisition of Rio Tinto Ltd. and Rio Tinto plc by BHP Billiton Ltd. It seeks further information on certain competition issues that have arisen from the ACCC’s market inquiries to date. The ACCC invites further submissions from the market by Sept. 5, 2008. To allow for these submissions, the ACCC’s final decision date will be deferred until Oct. 1, 2008. Submissions can be sent by email to the ACCC at mergers@accc.gov.au. The Statement of Issues will be available on the public merger register page on the ACCC’s website, www.accc.gov.au/mergersregister.
Potash One adopts shareholder rights plan
Vancouver-Potash One Inc. reports that its board of directors has implemented a Shareholder Rights Plan Agreement. It has been adopted to ensure the fair treatment of all Potash One shareholders in the eventuality of a possible takeover bid for the outstanding common shares of Potash One. In the event that a takeover bid should occur, the Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess the bid without facing undue pressure or coercion. The Rights Plan also provides the board with additional time to consider any takeover bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. As such, the Rights Plan is not designed to prevent takeover bids that treat Potash One shareholders fairly. “This Rights Plan is simply a proactive measure that we believe is appropriate to adopt in light of the increased pace of merger and acquisition activity in the mining industry,” said Paul Matysek, Potash One president and CEO. “We feel this is the prudent thing to do to protect shareholder value while we are embarking on the current growth phase of the company.” Potash One is a Canadian resource company engaged in the identification, acquisition, exploration, and development of advanced solution mine amenable potash properties. The Company owns 100 percent of a 97,240 acre Potash Subsurface Exploration Permit in Saskatchewan.
Vulcan holds stake in Eastern Canada potash
St. John’s, Newfoundland, and Labrador-Vulcan Minerals Inc. said Aug. 20 that it owns a 100 percent interest in 1,462 mineral claims (approximately 100,000 acres) in the Bay St. George Basin of Western Newfoundland, with the potential to host an economically viable potash deposit. These claims have been systematically acquired over the course of the last ten years as the Bay St. George basin has been the primary focus of the company’s exploration efforts for petroleum and minerals. Throughout the course of that exploration the company has acquired several seismic surveys and has compiled all previous geologic and geophysical data for the area. As a result of this exploratory work, the company acquired strategic mineral rights in those areas with thick evaporite sequences that contain salt and potash. Further work in the form of drilling and seismic acquisition specifically directed at potash exploration will be required to evaluate this potential. Vulcan has hired Robert Cuthbert as project geologist. He has several years experience in the Carboniferous rocks of New Brunswick and Nova Scotia and has specifically been involved in potash exploration and development in the Moncton basin. A significant part of that experience relates to drilling in evaporite formations. In addition, he has petroleum exploration experience and will assist the company in its ongoing petroleum exploration of the Bay St. George Basin. He has a BSc (Hons.) degree in Earth Science from Dalhousie University in Halifax, Nova Scotia, and is a professional geoscientist registered with the Association of Professional Engineers and Geoscientists of Newfoundland and Labrador. Vulcan says the company’s claims within the Bay St. George Basin have excellent road access and are all near tide water available for shipping 12 months of the year in the North Atlantic. The Trans Canada highway and provincial electrical grids cross the property. Vulcan, which describes itself as a diversified junior exploration company focused on petroleum exploration in the under-explored Western Newfoundland area, also holds mineral interests in areas strategic to its operations in Newfoundland and Labrador.
Raytec to conduct 2-D studies
Vancouver-Raytec Metals Corp. reports that it has engaged the services of Kinetex Inc., a subsidiary of FirstGrowth-EDS, to conduct 2-D seismic work on its Saskatchewan KP441 potash claim in advance of a proposed phase one drill program. The company recently received its exploration permits on the KP441 and KP452 potash claims, covering 91,549 acres, from the Saskatchewan Ministry of Energy and Mines. In June 2008, a NI43-101 compliant resource was established on the southwest portion of the KP441 claim using data from two historic holes drilled by Canadian Exploration Ltd. in 1969. The resource estimation, which covers approximately 17 percent of claim KP441, includes a net recoverable indicated resource of 12.49 million mt of K2O and a net recoverable inferred resource of 12.24 million mt of K2O. To confirm the quality, quantity, and extent of the potash mineral resources within the KP441 claim, the technical report recommended that the company acquire available existing 2-D reflection seismic trade data to confirm the continuity of the various Prairie Evaporite members, as well as undertake a 2-D reflection seismic survey over the entire KP441 permit area. The seismic survey is scheduled to commence in the upcoming weeks and will take approximately two months to be conducted with all data processed. Raytec intends to follow up this initial 2-D survey work with a 3-D seismic survey to further investigate the lithology and volumetrics of the potash mineralization within its permit area. Successful completion of this work will lead to the design and commencement of a phase one drill program focused on expanding the current potash resource. “With the receipt of our NI43-101 resource and exploration permit, all the pieces of our story are falling neatly into place and I’m pleased with the pace at which this has occurred,” said Brian Thurston, Raytec president. “We are focused on accelerating shareholder value at this point by immediately commencing work that will lead to the expansion of our existing potash resource.” The company is also awaiting the receipt of additional exploration permits on its KP455, KP466, KP467, and KP468 potash claim applications (contiguous with the KP441 potash claim) in south-central Saskatchewan. It has also made an application for the KP500 potash claim block located directly southwest of the company’s KP441 potash disposition, which lies within an area of influence to the recently announced NI43-101 resource estimate. In total, the pending applications cover 207,360 acres. The company anticipates that these new applications will be granted in the upcoming weeks and will be making announcements as each is received.
Bonaparte vessel begins sampling marine phos.
West Perth-Bonaparte Diamond Mines NL reports the commencement of the marine phosphate sampling program over the phosphate-enriched seabed sediments within its license area near Meob off the coast of Namibia. A sampling vessel was enroute to the location last week and was slated to arrive Aug. 27. It was expected to commence work on a grab and core program comprising some 650 samples.
Western Potash completes third well in Manitoba
Vancouver-Western Potash Corp. reports that it has now completed the third well in its five well exploration program at its Russell-Miniota exploration permit in Manitoba. These permits comprise 555 square kilometers, are adjacent to BHP Billiton’s Potash Lease and Agrium’s Exploration Permits along the Manitoba border, and lie within 13km of Saskatchewan Potash Corp.’s Rocanville Potash Mine. The company also reports that it has completed its planned 175km seismic program. Construction of the next drill site (the 4th drill hole), located approximately 5km south east of the third hole, has been completed, and mobilization of the drill is underway. After the company completes the initial five potash exploration wells, there is an option to extend the program by an additional 10 wells as results warrant. Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration, and development of potash mineral properties in Western Canada. The company intends to define and develop a world-class potash deposit in an ecologically sustainable, economically efficient, and socially responsible manner.
Sweet potato out-yields corn in ethanol study
Beltsville, Md.-Sweet potatoes grown in Maryland and Alabama yielded two to three times as much carbohydrate in ethanol production experiments than field corn grown in the same states, according to Agricultural Research Service scientists who found the same results from tropical cassava in Alabama. The ARS team said sweet potato carbohydrate yields approached the lower limits of those produced by sugarcane, the highest-yielding ethanol crop, in addition to requiring much less fertilizer and pesticides than corn. The tests, performed in the field at ARS Crop Systems and Global Change Lab here and in large soil bins at ARS National Soil Dynamics Lab in Auburn, Ala., were the first comparing the root crops to corn, and in growing all three simultaneously in two different regions of the country. For the sweet potatoes, carbohydrate production was 4.2 tons an acre in Alabama and 5.7 tons an acre in Maryland. Carbohydrate production for cassava in Alabama was 4.4 tons an acre, compared to 1.2 tons an acre in Maryland. For corn, carbohydrate production was 1.5 tons an acre in Alabama and 2.5 tons an acre in Maryland. Researchers point out that that more economical harvesting and processing would be needed if cassava and sweet potato are to become competitive with corn as ethanol sources, but they claim it would be worthwhile to start pilot programs to study growing methods.
Converted Organics partners with Gro Group
Boston-Converted Organics Inc. reports that it will work with Gro Group Inc. as a manufacturing partner in 2009, supplying its organic granular fertilizer to seven of Gro Group Inc.’s major distributors, which collectively service up to 15,000 lawn and garden retailers throughout the U.S. Converted Organics’ organic granular fertilizer is for use on lawns, turf, flowers, and gardens. Gro Group Inc. distributors service over 90 percent of the independent lawn and garden retailers in the U.S. and Canada, and are represented in every major U.S. and Canadian market. Converted Organics will showcase its all-natural soil amendment and fertilizer products in seven of Gro Group Inc.’s regional distributor retailer trade shows throughout the U.S. during September and October, 2008.