Belarus’ President Lukashenko has proposed a coordinated 10% potash production cut with Russian producers, aiming to boost prices and counter economic pressures. This move could significantly impact the global fertilizer market, benefiting major producers like Mosaic and Nutrien.
ICL Group Ltd. reported a decline in profits for the second quarter of 2024, despite beating analysts’ earnings expectations. Sales dipped by 6% year-over-year, but the company exceeded revenue forecasts. Notably, the Industrial Products segment saw growth, while Potash sales declined significantly. ICL also updated its full-year guidance, expecting stronger EBITDA driven by specialty products.
British mining giant Anglo American has received an all-share takeover proposal from the world’s largest listed miner, BHP Group. The deal, if approved, would give BHP access to strategic commodities such as copper, potash, and coking coal, strengthening its position in the clean energy transition and other key markets.
Anglo American, a British multinational miner, has received an unsolicited all-stock buyout proposal from BHP Group, a global mining giant. The proposal is highly conditional, and there is no certainty that an offer will be made. The potential deal would be preceded by Anglo American demerging its entire shareholdings in Anglo American Platinum and Kumba Iron Ore to Anglo American shareholders. BHP, known for mining iron ore, copper, nickel, and metallurgical coal, had a market capitalization of $148.71 billion as of the latest available data. If the deal materialized, it would be the second major acquisition for BHP in about a year after its 2023 purchase of Oz Minerals.
