OREANDA-NEWS. March 10, 2011. OJSC Belaruskali has put up for sale its shareholding in International Potash Company, or 340,000 shares, Belaruskali said in a statement.

Belaruskali has held a 33% stake in IPC since it was created in 1992.

Although CJSC Belarusian Potash Company was designated as the exclusive exporter of Belarusian potash in 2005, Belaruskali still controls a stake in IPC. IPC is the exclusive exporter of Silvinit make.

The issue of Belaruskali’s withdrawal from IPC has not been relevant until recently, the source added.

In early February, the shareholders of Uralkali and Silvinit approved merging the companies to create a leading global potash producer. The companies plan to complete their merger in May if both companies receive all the necessary approvals from the government and regulatory authorities by that time, they said.

Belaruskali hopes potash prices will go up as a result of the merger in Russia.