This could benefit the potash producers
Potash Corp. of Saskatchewan (POT) Stock Soars After Uralkali Evacuates Mine
NEW YORK (TheStreet) -- Shares of Potash Corp. of Saskatchewan (POT) are soaring, up 4.76% to $35.40 in afternoon trading Tuesday, after competing Russian company Uralkali suspended work at a potash mine in Russia's Perm region and evacuated workers.
Uralkali, the world's largest producer of the crop nutrient, halted one of its mines which could lead to reduced global supplies and higher prices, Bloomberg reports.
Uralkali said it evacuated the mine after detecting an increased flow of brine, which could dissolve potassium-bearing salts and weaken a mine's structure.
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