Commodity price surge predicted

Talk of a nascent recovery in the global economy has been embraced by the Canadian natural resources sector, with several companies predicting a near-term surge in commodity prices.

TORONTO — Talk of a nascent recovery in the global economy has been embraced by the Canadian natural resources sector, with several companies predicting a near-term surge in commodity prices.

Industrial demand for metals, minerals and other commodities is slowly improving and prospects for a rapid recovery in the world’s major developing economies, particularly China, had many natural resource companies singing an optimistic tune Tuesday at a global mining and materials conference in Toronto.

The president and CEO of Saskatchewan-based Potash Corp. (TSX:POT) predicted 2010 will be a “record year” for the fertilizer industry as farmers worldwide, who have been cutting fertilizer use re-enter the market in droves.

“We’ve been through a long period of virtual paralysis in the fertilizer markets but that’s coming to an end now because you can only go so long before you need to use fertilizer,” Bill Doyle said at RBC Capital Markets’ global mining and materials conference.

Doyle predicted Brazil will import one million tonnes of potash a month between July and October and other farmers worldwide will be forced to jump back into the market this year as well.

In addition, Doyle and Mike Wilson, the CEO of Calgary-based fertilizer producer Agrium Inc. (TSX:AGU), predicted an ongoing pricing dispute with major potash importers India and China will be resolved this summer, resulting in skyrocketing demand.

Just Posted

Man from Olds killed in collision near Sundre

A 39-year-old man from Olds was killed in a collision near Sundre… Continue reading

Tips to keep crime at bay this Christmas

’Tis the season for joy and celebration, but the Christmas season can… Continue reading

Olympic ski run designer creates upgrades at Canyon Ski Resort

Jeff Ihaksi says free-style and alpine ski venues are Canada Winter Games-worthy

Updated: Collision expert backs version of crash of driver accused of manslaughter

Daniel Newsham accused of manslaughter in fatal 2016 collision

WATCH: More than 100 protest UN migration pact, carbon tax in Red Deer

Chants of “Trudeau must go” echoed through the streets of downtown Red… Continue reading

Tkachuk’s goal in 3rd gives Flames 2-1 win over Wild

ST. PAUL, Minn. — Matthew Tkachuk scored the go-ahead goal midway through… Continue reading

Women use scent to lure wolf-dog that ran away from Calgary airport

EDMONTON — A woman from Alberta is thanking an unconventional strategy for… Continue reading

Suspect in Alberta, Saskatchewan bank robberies to get mental assessment

MEDICINE HAT, Alta. — A former Winnipeg broadcaster and journalism instructor accused… Continue reading

Trudeau to make it harder for future PM to reverse Senate reforms

OTTAWA — Justin Trudeau says his government hopes to make legal changes… Continue reading

No winning ticket for Friday night’s $60 million Lotto Max jackpot

TORONTO — There was no winning ticket for the $60 million jackpot… Continue reading

All evacuation orders lifted in deadly California wildfire

PARADISE, Calif. — All evacuation orders have been lifted in Paradise more… Continue reading

All aflutter about our feathered friends

Christmas Bird Count will be held Dec. 23

Baylor ties pervade rape case that sparked uproar

DALLAS — The Texas judge who approved a plea deal allowing a… Continue reading

Most Read