Wednesday 7 August 2013

BHP Taking Long View on Potash in Wake of Uralkali Move | Business | The Moscow Times

BHP Taking Long View on Potash in Wake of Uralkali Move | Business | The Moscow Times:

"BHP Billiton's new boss Wednesday shrugged off Russian potash producer Uralkali's exit from one of the world's two big potash cartels, saying BHP was taking a long-term view on its planned entry into the industry.

In the wake of Uralkali's surprise move, there has been speculation it may make more sense for BHP to take over U.S. potash producer Mosaic Co. instead of building a $14 billion potash mine in Canada, up for a decision this year.

"We think very long-term. This is something that's happened short-term," BHP CEO Andrew Mackenzie told reporters, when asked whether the company might delay development of Jansen with potash prices expected to slump."

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