MOSCOW--Russian potash producer OAO Uralkali (URKA.RS) reported Thursday broad declines in revenue and average export prices for the fertilizer ingredient following the collapse of a global pricing cartel, but said it expected lower prices to drive up demand by more than 10% in the coming year. The $22 billion global potash market has been in disarray since Uralkali said in July it would leave a trading partnership with Belarus that controlled around 40% of global trade in the fertilizer ingredient. The move effectively ended an informal global pricing cartel, sending potash prices tumbling. The company said Thursday that its third-quarter net revenue tumbled 21% on the year to $697 million and that the average export price for the fertilizer additive had slipped 27% to $272 a metric ton over the same period, despite little change in production volume at 2.7 million metric tons. Still, the company said instability in the market appeared to be passing and it expected demand to return in the coming year. "As the fall application campaign approached, we saw restoration of demand in major growing regions, such as China, India and Brazil. We believe that the new market environment will balance potash supply and demand in a more efficient way, thus ensuring higher levels of fertilizer availability for consumers," said acting Chief Executive Viktor Belyakov. The company predicted that global demand would rise to 58 million-60 million tons in 2014, up from 53 million-54 million expected this year, "driven by a pickup in China, India, Brazil and Southeast Asia." Uralkali said Brazil, in particular, had emerged as the most active market and that prices there had leveled off at between $310 and $330 a ton in mid-December. Demand in India had fallen as a result of currency devaluation and in China, driven by increases in internal supplies. Uralkali has been forced to deal with the arrest of its chief executive, Vladislav Baumgertner, in Belarus in August on charges of abusing his power as the head of the now-defunct partnership. Uralkali has dismissed the case as politically motivated. The collapse of the partnership had infuriated officials in Belarus--which counts on potash for a large part of its export revenue--with the country's president demanding that Uralkali's principal owners sell their stakes for there to be any possibility of reconciliation. Last month, the company's main owners agreed to sell, and Mr. Baumgertner was returned to Russia soon after. He remains under house arrest in Moscow as he awaits trial, although political analysts say they suspect the charges will be dropped or that he won't serve jail time if convicted.

These results probably better than expected, since now over 10

Additional Polyhalite MOU

· 500,000 tonnes per annum of new sales commitments bringing the total to 4.28 million tonnes per annum
· Leading Chinese agricultural business, Sichuan AMPC, enters into 500,000 tonnes per annum memorandum of understanding
· Commitments in place for over 85% of phase 1 production with further discussions continuing with customers for in excess of full phase 1 production

Board Changes

Board Changes

· Keith Clarke CBE, former CEO of WS Atkins plc, appointed as non-executive director
· Sir David Higgins steps down due to other work commitments

In auction +10.4%.

Currently up 25% and approaching the 200ma.

In auction +19%.

RSI getting a bit 'warm' - could do with some consolidation around 18p.

Trouble is that there seems to be no obvious reason for such a sharp rise, which would indicate that it is purely a trading surge. No doubt you will short it back down again? ;o)

There is obviously some renewed interest over the past couple of weeks (volume), but I'll probably sell some soon - and then leave the rest as a virtually free ride - well that's the plan anyway!

Closed half @16p

In auction again - on the way down this time!

Not too surprising after 150% rise . It will be interesting to see how far they will retreat.

Skinny, Happy New Year to you!
It looks like you'll be able to buy back into SXX at your 9p average again soon.
This share has certainly been marched up the hill and is falling back down with some speed!
TT

And to you too TT - yes it's looking that way!

lots of buying at current level - interesting

Cup & handle?

I thought the two sides of the cup had to be roughly even for that to apply? Might be wrong.

Looks a bit more like it on this chart looking at mid August :-)

York Potash Approvals Update

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY) ("Sirius" or the "Company") are pleased to provide an update on the approvals process for the York Potash Project (the "Project").

The Company has entered into a new Planning Performance Agreement ("PPA") with the North York Moors National Park Authority (the "National Park Authority" or "NYMNPA") to secure on-going pre-application engagement with the National Park Authority in advance of the submission of a fresh planning application no later than July.

PPAs are viewed as best practice for significant planning applications. They provide an arrangement whereby the Company can contribute to funding the costs of the NYMNPA in order for it to continue detailed pre-application discussions. These discussions centre on key aspects of the Project such as environmental study methodology and planning policy considerations.

The pre-application funding, which ceases when a planning application is submitted, allows the National Park Authority to ensure its routine work and performance is not affected by this pre-application engagement.

As indicated in the announcement on 23 October 2013, the Company has formally withdrawn its previous application. Submitting a fresh application will simplify existing planning documentation and allow the Company to focus its case around those matters of outstanding concern to the National Park Authority.