Potash Prices Could Beat $650/t by End 2012
Source: Mining Weekly, Matthew Hill (8/31/11)
"As the supply-demand equation for potash continues to tighten, prices will continue to climb."
As the supply-demand equation for potash continues to tighten, prices will continue to climb, analysts said on Tuesday, with one predicting they may even top $650/t by the end of next year.
"The average spot price of potash should climb to at least $650/t by late 2012—perhaps higher," Scotiabank economics VP and commodity markets specialist Patricia Mohr told Mining Weekly Online.
Toronto-listed Karnalyte Resources Inc. (TSX:KRN) CEO Robin Phinney had a similar view.
"My guess is they're probably going to stabilize in $550/t range over next year or two," he said in a telephone interview, predicting that the world would have a potash supply shortage for the next 15 years.
Karnalyte aims to build a 500 000-t/y carnallite potash mine by the end of 2013 at its Wynyard project.. . .View Full Article