K+S completes Canadian deal, will soon start work on potash project

24 March 2011 15:32  [Source: ICIS news]

TORONTO (ICIS)--K+S has completed its acquisition of Canada’s Potash One and plans to start work on a major potash project in Saskatchewan province, the German fertilizer major said on Thursday.

K+S announced the Canadian dollar (C$) 434m ($447m) deal for Potash One last November.

K+S said it expected to soon begin infrastructure work and preparations for drillings on Potash One’s potash mine project in Saskatchewan, but it did not say when exactly the work would start.

The project could be built out in phases to yield significantly more than 2.7m tonnes/year of potash, with first production expected to start in 2015, it added.

In related news, Anglo-Australian miner BHP Billiton said this week that it hired an engineering firm to help develop potash projects in Saskatchewan, including the 8m tonne/year Jansen project.

($1 = C$0.97)

By: Stefan Baumgarten
+1 713 525 2653

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