Agrium board approves 1m tonne/year Canada potash expansion

14 December 2011 13:15  [Source: ICIS news]

TORONTO (ICIS)--Agrium plans to expand production capacity at its potash facility at Vanscoy in Saskatchewan province by 1m tonnes/year, the Canadian fertilizer firm said on Wednesday.

Agrium said its board of directors approved the expansion project, which is expected to be completed in the second half of 2014.

“The expansion is expected to increase annual production capacity by approximately 50%, bringing total annual nameplate capacity to 3m tonnes,” Agrium said in a statement.

Capital expenditure for the project is expected to be about $1,500/tonne, it added.

Agrium CEO Mike Wilson said the company's brownfield potash expansion at Vanscoy will be much quicker to bring on, and significantly less expensive to develop, than potash greenfield projects planned by competitors.

Agrium is the third largest potash producer in North America, it said. In 2010, Agrium produced 1.8m tonnes of potash. The company’s Vanscoy mine directly employs over 600 people.

For more on Agrium and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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