It has been reported that Sinochem, a chemicals group might be prepared for a huge proposition for the Canadian PotashCorp. The fact is that these Chinese Companies are interested in the biggest Companies in Canada. But, it does not stop there. It was also reported that Jinchuan, the largest producer of cobalt and nickel in China, has agreed to buy a metals explorer that is primarily based in Canada and the best part is that they had to pay only a fraction of the price that Sinochem would be buying for Potash.
The Executives of the Chinese fertilizer producer, Sinochem have invested some time in London, trying to gauge interest from probable supporters for a bid for Potash Corp. of Saskatchewan Inc., the Globe and Mail's European business as informed by journalist, Eric Reguly.
Potash Corp.'s bankers have been directly trying to gather a potential bid concerning BHP Billiton's almost $39-billion project and mainly it is expected that China will be available to back the bid.
China will pay heed towards its mining giant BHP Billiton Ltd.'s bid for Potash Corp. where the government aims for Saskatchewan Inc., the Canadian fertilizer generator.
It is said that the company will receive full support from Chinese government and at the same time will explore overseas market too.
The world's largest fertilizer producer regulates 17% of the global output of potash one of the three major constituents of fertilizers.
Potash corp. stated that it is in talks with potential bidders who wish to challenge BHP Billiton's hostile $39 billion buyout.