Pacific Potash Announces Cowley Merger Plans
News: Canadian mining company Pacific Potash Corp has announced plans to merge with UK potash company Cowley Mining , Mining.com reports. If finalised, the new Brazilian-focused entity would become the largest publicly listed land rights holder in Brazil ' s Amazon Potash Basin. The companies have stated that they will require CAD12.6mn (US$12mn) in equity financing to complete the deal.
BMI View: Iron ore will remain the most important mineral commodity in Brazil, attracting the largest investments and new projects. We continue to forecast growth in iron ore output, although our forecast reflects slowing growth in the Chinese economy and domestic sector challenges. We forecast that output will grow by an average of 4.0% a year through to 2017, reaching 482mnt.