Potash production must increase because "Global fertilizer use must be ramped-up to avert a permanent food crisis and world instability," according to a scary story on Mineweb.com this morning.
Author Marc Davis quotes Bill Doyle, CEO of world-leader Potash Corp. as warning that "It appears very likely that farmers will not be able to keep pace with grain demand in 2009."
"When mixed with phosphate and nitrogen, potash makes it possible for fertilizers to boost crop yields by as much as 60%." [right, potash minerals. Credit, USGS]
The story references a report prepared for the Group of Eight nations titled "The Global Challenge: to Reduce Food Emergency", that says "global food production needs to double by 2050 to feed an additional 79 million-plus mouths each year."
A technical study by AZGS last year found that potash resources in the Holbrook basin in Arizona range from 682 million metric tons to 2.27 billion metric tons and could account for as much as one-fourth of the entire U.S. resource base. A number of companies have acquired leases over the deposit and one has filed permits to start an exploration drilling program.