Russia's 2011 potash output up six percent

Uralkali's 2011 output rose 6 percent to 10.83 million tonnes, the world's second-largest potash producer by capacity said on Monday. Uralkali merged with domestic rival Silvinit in 2011 to form Russia's largest potash producer. The Russian miner plans to boost output further in order to close the gap with market leader Potash Corp.
"In 2012 Uralkali will carry on its development programme and launch construction of the shafts of the Ust-Yayvinsky mine," chief executive Vladislav Baumgertner said in a statement. "The large-scale investment programme will enable the company to almost double its production capacity in 10 years." Canada's Potash Corp has the capacity to mine 13.3 million tonnes annually, and wants to raise this to 17.1 million tonnes in 2015. Earlier this month, analyst Robert Wilson at Canada's National Bank wrote that global potash supply is likely to outstrip demand through 2020.