K+S mulls bid for German potash mine – report

22 February 2008 14:25  [Source: ICIS news]

TORONTO (ICIS new)--German fertilizer maker Kali + Salz (K+S) is keen on bidding for a shutdown potash mine in eastern Germany, the country's media reported on Friday, citing a company official.

 

The mine at Rossleben in Thuringia was closed in 1991 following German reunification.

 

GVV - a government agency charged with maintaining and selling off idled mines in eastern Germany - was seeking to sell the mine, it said in a statement on its website without identifying bidders.

 

According to the news reports, GVV received several bids from companies in Germany, Canada, Israel and France.

 

GVV's efforts to find a buyer for Rossleben come as fertilizer prices and demand keep rising worldwide.

 

K+S' share prices rose 3% to €201.83 at 14:00 GMT on the Frankfurt Stock Exchange.

 

Spokespeople at K+S’ headquarters in Kassel, Germany, were not immediately available for additional comment.

 

By: Stefan Baumgarten
+1 713 525 2653

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