i have a good feel about psh, page-12

GPASAS,
Trona based production from the US is sold by ANSAC outside of the US. This consortium is not allowed to operate in the US under their competition law.

I believe ANSAC effectively sets the world price for Soda Ash. There is no point for them in selling at a lower price unless they want to wipe out some more marginal Solvay producers.

Under current economics no more Solvay plants are being built. They are very capital and energy intensive. However they have an effective life which is in most cases being run down because the price (set by ANSAC) does not allow for rebuilding just maintenance.

This is no different to owning a truck. Your income must allow for repairs and maintenance but sooner or later if you don't have the money for a new truck you are doomed. Penrice is a 1940 truck.

The Salt Fields were the jewel in the crown. A valuable land bank. They were sold to Ridleys.

Bacci