Agrium and PCS Become Nutrien

Potash Corporation of Saskatchewan (PCS) and Agrium announced this week that once the anticipated merger transaction closes, the new company will be named Nutrien. According to the two companies, the new organization will be the global leader in reliable, low-cost crop nutrient production, combined with the largest agricultural retail-distribution network in the world. The regulatory review and approval process for the merger continues and they expect it to close in the third quarter of 2017.

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Stillwater Reaches 2-year Wage Agreement With US Steel Workers

Sibanye announced that it has secured a two-year wage agreement with the United Steel Workers of America, International Union, the representative union at its Stillwater Operations in Montana, USA. Negotiations with the United Steel Workers of America, International Union at East Boulder, will take place at year end.

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Cliffs Natural Resources Picks Ohio for its HBI Production Plant

Cliffs Natural Resources Inc. announced it has selected a site in Toledo, Ohio, for the development of its first hot briquetted iron (HBI) production plant. Midrex Technologies was selected to design, engineer and procure equipment for the new plant, which will have the nominal capacity to produce 1.6 million tons of HBI per year.

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Gold Reserve Receives First Payment From Venezuela

Gold Reserve Inc. reported it has entered an amendment to the settlement agreement with the Bolivarian Republic of Venezuela. Under the terms of the amended settlement agreement, Venezuela will pay Gold Reserve a total of US$1.032 billion as result of negotiations of the parties to satisfy the arbitral award granted in favor of the company by the International Centre for Settlement Investment Disputes, including the price agreed for the mining data related to the Brisas property.

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