Sirius Exploration is a company that’s changed dramatically over the past year or so. In the report and accounts to March 2009, management refers to a “year of transformation” , and in that time the company has moved from being a gold, iron, copper based minerals explorer to a focus on potash and salt.
Er, potash? Not the best known of industrial minerals. However, there is a major market for it – 93 percent of potash sells into the agricultural market, being used as a key ingredient for fertiliser. And as major industry player Potash Saskatchewan points out, in the long term demand for fertiliser is only going one way, up – the need to increase agricultural yields in the developing world together with increased grain production will lead to higher demand . Meanwhile, although like other minerals potash has seen prices come back since the record high in February 2009 of USD 870 a tonne, the potash price is still nearly double the USD 200 a tonne seen earlier this decade.
Mind you, these are still exploration prospects; the company hasn’t yet become a producer. But its North Dakota acreage is…
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