Investor Presentaiton
Leverage to MOP price upside
Conservative long run potash price assumed
MOP NW Europe standard bulk (fob, nominal)
New global MOP pricing paradigm
Western European forecast to remain a net
MOP importer with regional supply deficit
expected to increase in the long term.
US$/t
900
800
I
|
700
I
I
600
500
400
2012
2014
2016
2018
Actual
Forecast
2020
2022
300
200
100
0
2024
US$385 Scoping Study input assumption
Long-term MOP prices continue to be strongly
supported by global crop price strength.
Geopolitical tensions have heighted food security
concerns and continue to impact traditional
sources of supply.
Source: Argus Potash Analytics, November 2022
AUGUST 2023
ע
SOUTHHARZ
POTASH
☐
STRONG UPSIDE LEVERAGE TO A REBASED
EUROPEAN PRICE ENVIRONMENT AND ONGOING
SUPPLY SHORTAGE
Europe has been the highest paying market worldwide since
the end of 2022 - a trend that is expected to continue
Structurally limited exports from Belarus and Russia and
reduced supply expected into the foreseeable future -
logistical and financial constraints unlikely to fully unwind in
the near term
Ongoing geopolitical tensions driving continued east-east,
west-west bifurcation
Europe to embrace increased home grown production
INVESTOR PRESENTATION
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