Passport Potash Inc

Published : July 06th, 2011

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Potash Mining Grows In Arizona On Food Demand Surge
01 Jul 2011 07:35 EDT DJ FOCUS
(This article was originally published Thursday.)

By Ian Berry Of DOW JONES NEWSWIRES


Relentless growth in global food demand is drawing small mining companies to a national park in Arizona's Holbrook region that contains a key fertilizer ingredient: potash.
This nutrient, widely used in soil fertilizers, has gone in recent years from little known to a global commodity in strong demand, as China and India hunger for more crops. While the U.S. is the world's largest crop producer, it historically has mined little potash, instead relying on the Canadian mines of such large fertilizer producers as Potash Corp. of Saskatchewan (POT), Mosaic Co. (MOS) and Agrium Inc. (AGR).
Companies such as Passport Potash Inc. (PPI) are exploring a basin within the boundaries of Arizona's Petrified Forest National Park that geologists say could hold as much as 2.5 billion tons of potash.
Analysts estimate the Arizona basin could produce 1 million to 2 million tons of potash annually, or about 3% of current global production. Because the site is along a rail line connected to the Port of Long Beach in California, producers could export supplies to Asia.
The size of the reserve and forecast for global demand is drawing strong interest in northeast Arizona, particularly from small junior mining companies. They dotted the basin with bore holes to assess the mining potential.
"It's staggering. It's a very aggressive research program out there. Every time we turn around there's another 10 or 15 permits showing up for this," said Lee Allison, the state's geologist.
Nearly half of the potash is within the national park's boundaries, which Congress expanded in 2004. However, a majority of that can still be mined. Congress never appropriated any money to purchase the new land, so an estimated 28% of the potash is in the expanded boundary area, under land that is still owned privately or by state trusts, Allison said.
Conservation groups have little recourse to stop mining, after unsuccessfully fighting a bill the Arizona legislature approved this year allowing mining on the state trust lands, said Sandy Bahr, director of the Sierra Club's state chapter.
Much of the land is in the hands of Canadian-based Passport Potash and a couple other companies. With potash prices at more than $400 a ton--down from record highs of $1,000 in 2008, but still well above historical norms--the basin could produce hundreds of billions of dollars in supplies, Allison said.
"Anywhere between $300 and $500 [a ton] is a very comfortable range for us," Passport Chief Executive Joshua Bleak said in an interview.
Other companies are making similar bets on global fertilizer demand.
Expansions planned by Potash, Agrium and Mosaic and others will add nearly 20 million tons of additional annual capacity, or about a third of current global production, over the next several years, said Charles Neivert, analyst with Dahlman-Rose.
That's before accounting for more speculative plans by mining giants such as Vale SA (VALE) and BHP Billiton Ltd. (BHP). The result of all the expansion could be close to 100 million tons of total, annual production, potentially more than the market can handle, Neivert said. "You're adding over 50% to a market they're saying is growing 3% a year," Neivert said. "And they're going to do this over the next 10 to 12 years.
" Still, producers in Arizona could be well-positioned because costs will likely be low, giving them an advantage, and the presence of new export supplies out of Arizona could cause headaches for what Neivert called "a very tight global oligopoly" that controls potash supplies.
Two companies in addition to Passport have significant holdings in the Holbrook region: HNZ Holding, a joint venture including Hunt Oil Co., and Prospect Global Resources. Neither company responded to requests for comment.
Prospect is chaired by Barry Munitz, former head of the J. Paul Getty Trust. It's run by Pat Avery, former president of Intrepid Potash Inc. (IPI), the largest U.S. producer of potash. Passport, meanwhile, has financial backing from Phillip Frost, a Florida billionaire and pharmaceutical entrepreneur who is its largest shareholder.
Ultimately, the companies vying to mine in the Arizona basin are likely to become acquisition targets, analysts said. "If they get closer to production, then I think the sharks will start circling," said Sean Brodrick, an analyst with Weiss Research.
Still, analysts note the project remains in the exploration phase, and the extent of the reserves, and how it could be extracted, aren't fully resolved.

(Ian Berry covers agribusiness for Dow Jones Newswires,
Copyright (c) 2011 Dow Jones & Company, Inc.
Copyright � 2011 Passport Potash, Inc., All rights reserved.
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3266 W. Galveston Dr. #101
Apache Junction, AZ 85120

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Passport Potash Inc

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CODE : PPI.V
ISIN : CA70286C1014
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Passport Potash is a exploration company based in United states of america.

Its main exploration property is HOLBROOK in USA.

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Financings of Passport Potash Inc
1/21/2013Announces Convertible Debenture
Nominations of Passport Potash Inc
6/6/2013Announces Hiring of Chief Operating Officer
2/2/2012Adds Former United States Congressman to the Board of Direct...
1/18/2012Appoints David Salisbury as Director and Chairman of the Boa...
7/19/2011. Announces New Board Appointments
Project news of Passport Potash Inc
10/31/2012(Holbrook)Enters into Agreement to Acquire 100% Interest in its Landh...
8/3/2012Enters Into Joint Exploration Agreement with HNZ Potash LLC
8/1/2012Drill Results For Passport Potash=2C Inc.
4/2/2012Announces New NI 43=2D101 Compliant Mineral Resource
1/19/2012Would Like to Invite You to The Vancouver Resource Investing...
11/30/2011(Holbrook)Retains ERCOSPLAN to Complete Initial Resource Estimate on H...
9/8/2011Dundee Capital maintains "Buy" Rating, Highlights benefits ...
8/24/2011Signs LOI to Acquire 41,000 Acres of Royalty Free Private La...
6/25/2011Weiss Research Analyst Sean Brodrick comments on Passport Po...
6/16/2011Sean Brodrick, Uncommon Wisdom (6/13/11) " Passport Potash a...
6/3/2011World Resource Conference, Booth 214, Vancouver , June 5-6
4/1/2011(Holbrook). to Expand Holbrook Basin Exploration Program
3/29/2011(Holbrook)Enters Option Agreement with Ringbolt Ventures, Ltd. to Acqu...
Corporate news of Passport Potash Inc
11/4/2015Passport Potash Inc. Announces Transfer from TSX.V to NEX, N...
7/9/2015IIROC Trading Halt - PPI
2/27/2015Appointment of Jerry Aiken to Passport Potash Board of Direc...
11/5/2014Passport Potash Abandons NAPD Option and Adopts New Share Op...
6/9/2014Passport Potash Announces Closing of Convertible Debenture F...
4/23/2014Passport Potash Issues Shareholder Letter
4/16/2014Passport Potash Announces a Strategic Investment
10/19/2013.: News Release
8/22/2013Extends Twin Buttes Ranch Option Agreement to January 2016
8/8/2013Weighs in On How Low=2DCost Potash Firms Will Succeed
7/31/2013Issues Statement on Uralkali Announcement
7/30/2013David Salisbury=2C Chairman of Passport Potash=2C talks to B...
7/26/2013in the media
7/19/2013Stockhouse does Q&A with Passport Potash=2C Inc's new Chief ...
7/3/2013Geotechnical Drilling Update
6/19/2013Permitting Update
6/11/2013Applies for Mineral Leases and Submits Mineral Development R...
6/4/2013Extends Fitzgerald Ranch Closing to June 2015
5/30/2013Announces Acquisition of Strategic New Lands
5/10/2013The Northern Miner writes up Passport Potash=2C Inc.
4/25/2013Announces Completion of First Phase of Drilling on Hopi Prop...
3/19/2013Announces the Dismissal of Lawsuit and Acquisition of Explor...
3/14/2013Chairman David Salisbury talks PEA.
3/13/2013(Holbrook)Announces Positive Preliminary Economic Assessment on its Ho...
11/13/2012and Hopi Tribe Enter Into Joint Exploration Agreement
10/24/2012Investor Introduction
10/16/2012Breaking News on Passport Potash=2C Inc.
10/15/2012Signs Letter of Intent with Hopi Indian Tribe
9/27/2012Announces Mineral Resource Update, Adding Measured Resource ...
9/10/2012Utah Court Grants Passport Potash Motion for Preliminary Inj...
5/24/2012Announces Expanded Drill Program and Reports Progress in Cur...
5/14/2012Enters Into Purchase Agreement to Acquire Fitzgerald Ranch
5/10/2012Continues Expanding the Deposit With Infill and Expansion Dr...
4/24/2012Al Korelin on Passport Potash=2C Inc.'s Latest Site Visit
4/10/2012Chairman to Appear on BNN Commodities Show
2/23/2012Chairman David Salisbury talks with Al Korelin
12/26/2011Season's Greetings from Passport Potash=2C Inc.
10/25/2011Signs LOI to Acquire 50% Ownership Interest in HNZ Potash=2C...
9/6/2011World Money Show, Booth 412, Toronto, September 8-10
7/6/2011highlighted in Dow Jones Newswire
6/20/2011Intersects Up to 25.75% KCL Potash Mineralization at Relativ...
6/15/2011Engages Former Congressman (Hon) Matthew J. Salmon and Upstr...
6/15/2011. Engages Former Congressman (Hon) Matthew J. Salmon and Ups...
6/9/2011Completes Initial Phase Drill Program on Twin Buttes: Set To...
5/6/2011Updates for Passport Potash, Inc.
5/4/2011. Announces Completion of Four Core Holes
4/21/2011Dundee Capital Markets Adds Passport Potash to Its Fertilize...
3/22/2011. to Attend Mines and Money in Hong Kong and FMB Asia Fertil...
3/14/2011. Finalizes Cooperative Agreement with Hopi Tribe
3/11/2011Former Deputy Under-Secretary of the Interior Appointed as a...
3/9/2011President & CEO of Passport Potash Inc., To Appear on Bloomb...
3/3/2011Founder of Anatolia Minerals, James Davidson, Appointed Dire...
3/1/2011. Commences Trading on OTCQX
2/14/2011. Announces Progress on Exploration Program and Additional L...
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