Russia's Acron sells Canadian potash licence to BHP Billiton

RUSSIAN fertiliser maker Acron has said it sold a Canadian potash exploration permit to BHP Billiton for an undisclosed amount.

The permit covers 83,880 acres in central Saskatchewan.

A source close to the Russian company said the deal was worth slightly more than the C$6m (£3.8m) sale of a similar deposit to Canada's Sanya Resource Corp in October.

Acron said it still holds more than 20 potash exploration permits in Canada.

BHP Billiton earlier this month abandoned a $39bn bid for Canada's Potash Corp, the world's largest producer of the crop nutrient.