Potash, a commonly used fertilizer, and uranium have been swept up in the global commodities rally after Russia’s invasion of Ukraine. Russia is a major source of uranium and a low-cost high-volume global producer for all major fertilizers. Disruptions in the potash trade will mean higher costs for farmers across the globe and in turn, more food inflation.
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“We have been approached, as has Minister (Melanie) Joly of Global affairs” by partners seeking potash, Wilkinson said last week in a press conference. “Countries approached me about uranium.”
Russia produces about 35% of the world’s enriched uranium for reactors, about twice as much as the No. 2 provider, according to UxC LLC, a nuclear industry researcher.
North America’s largest miner is Canadian company Cameco Corp. The producer told Bloomberg earlier this month in an email…
