Compass Minerals International Inc. (NYSE:CMP) has acquired Big Quill Resources Inc., Canada’s leading producer of sulfate of potash, in an all-cash transaction valued at 56 million Canadian dollars (US$56.3 million), subject to customary post-closing adjustments.
Located on Big Quill Lake near Wynyard, Saskatchewan, Big Quill Resources produces high-purity sulfate of potash (SOP) for non-agricultural specialty applications as well as for nutrients used by growers of high-value crops and turf.
“Big Quill is an innovative, entrepreneurial business with unique production capabilities, technical expertise and non-seasonal applications that will both broaden and strengthen Compass Minerals’ specialty fertilizer segment,” said Angelo Brisimitzakis, Compass Minerals president and CEO. “We expect this acquisition to be immediately accretive. In addition, we plan to expand Big Quill’s production and sales of high-value, specialty products over time.”
CMP is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications.
American Video Teleconferencing Corp. (AVOT.PK) - Rare earth elements have become irreplaceable in clean tech, for instance in hybrid and electric vehicle motors, high-efficiency lamps, solar panels and wind turbines. They even play a key role in defense technologies which include cruise missiles, radar and sonar and precision-guided weapons.
Experts warn that the U.S. depends upon China for almost all of its supply of rare earths, and has let its own rare earth production languish despite possessing about 15 % of the world’s reserves. A draft of a Chinese rare earths plan for 2009-2015 expresses that China’s own industrial requirement could soon cause restrictions or bans on the export of rare earths.
AVOT has hired a French speaking geologist to search the archives of the Quebec Department of Mines for Rare Earths showings not on a current computer file. The company believes the rare earths industry is where it wants to maintain a very strong focus and is looking to expand its holdings. The Province of Quebec is rated the number one jurisdiction in the world to carry out mineral exploration.
The company previously reported that it is presently in final discussions to enter into a formal agreement to acquire an exclusive option on a molybdenum property in the Otter lake area in the province of Quebec, Canada.
This property is only one of several advanced stage properties AVOT has under consideration in the province of Quebec.
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