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Stock Market & Financial Investment News

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February 25, 2014
10:01 EDTAGUAgrium board approves nitrogen debottleneck expansion in Texas
Agrium announced that its board has approved an expansion at its nitrogen facility in Borger, Texas. The expansion project will add a new urea production unit of approximately 610,000 tonnes, of which approximately 100,000 tonnes will be Diesel Emission Fuel grade urea. DEF is used to reduce nitrogen oxide emissions in diesel vehicles and this product will help diversify our end-markets. The project will also increase the annual ammonia capacity for the facility by approximately 145,000 tonnes, bringing the total annual gross ammonia capacity to approximately 635,000 tonnes. The total capital cost of the project is expected to be approximately $720M. Construction will fully commence in March, with completion expected in the second half of 2015. During this construction period, the Borger facility is expected to operate at normal production rates.
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March 24, 2015
08:31 EDTAGUCanpotex undercut by Belaruskali deal with China, FT reports
Belarus' state-owned fertilizer group, Belaruskali, has agreed to sell its potash to Chinese buyers at $315 a tonne for the first half of 2015, which is well below market prices which are currently about $330-$340 a tonne, said Financial Times, noting that Canpotex, the offshore marketing company jointly owned by Agrium (AGU), Mosaic (MOS), and Potash Corp. (POT), had been holding out for higher prices with the Chinese. Reference Link
March 23, 2015
09:34 EDTAGUAgrium initiated with a Buy at TD Securities
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