Yara International ASA, Oslo, and Arab Potash Co., Amman, have decided to end all discussions under the Memorandum of Understanding dated Jan. 29, 2018, in relation to potential cooperation in the field of potassium nitrate through APC’s subsidiary, Kemapco, and to terminate the same, according to a Bloomberg report citing a statement from both companies. As a result, Yara will not be pursuing an ownership stake in Kemapco.
The parties said they appreciate the efforts exerted in this regard by both companies and remain interested in exploring other mutually beneficial avenues.
Intrepid Potash Inc., Denver, reported improved second-quarter results citing higher potash prices and strong domestic Trio volumes, with the latter offset by a challenging international market and reduced production schedule. Water demand continued to be called solid.
The company reported a loss of $1 million ($0.01 per share), though it was an improvement over the year-ago loss of $5.9 million ($0.05 per share). Net sales were $51 million, up from the year-ago $45 million.
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