Nutrien sells stake in Arab Potash to China’s SDIC

Canada’s Nutrien (TSX:NTR), the world’s largest potash miner, said Monday it was selling its 28%-stake in Arab Potash Co to China’s State Development and Investment Corp (SDIC), for $502 million.

SDIC Mining Investment, a subsidiary of SDIC, will become the majority shareholder in Arab Potash after the transaction, which is expected to further reduce China's reliance on potash imports and guarantee its food security.

In May, Nutrien sold its 24% stake in Chile’s Chemical and Mining Society (SQM), one of the world’s top lithium producers, to another Chinese company —  Tianqi. The $4.1 billion-deal, currently being probed Chile’s antitrust regulator, allowed Beijing to tighten its grip on the global supply chain for battery raw materials

 

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