“Both Ukraine and covid-19 have led to lowered expectations for Chinese and global GDP growth in the near term,” Henry said at the Bank of America Global Metals, Mining & Steel Conference.
“We also expect that the current supply chain disruptions may also take 2-3 years to resolve,” he added.
Henry said he expected some economic growth in China to spill over into next year.
“We expect a degree of catch-up when lockdowns do ease,” he added.
In a wide ranging speech, Henry said the company’s decision to invest in the Jansen potash project will bring greater cash flow stability and returns resilience.
The fundamentals for potash remain strong and were reinforced by the war in Ukraine that caused supply side disruptions, with Russia and Belarus accounting for almost 40% of global production.
“This has positively reinforced the decision we’ve taken to enter potash,” Henry said. “So we are making good progress…
