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K+S abandons earnings target following collapse of potash cartel, but stays committed to Canada project

9:59 AM MDT | August 6, 2013 | Ian Young

Potash producer K+S (Kassel, Germany) says it has abandoned its earnings forecast for full-year 2013, following the break-up of the BPC (Minsk) potash export cartel last week. The collapse of BPC was caused by Uralkali's (Berezniki, Russia) decision to quit the cartel, which the company operated jointly with Belaruskali (Soligorsk, Belarus). The move caused share prices of leading potash producers, including K+S, to plummet worldwide on fears of a major decline in potash prices in fertilizer markets. "The announcement by Uralkali that it is leaving the BPC...

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