Germany's K+S breaks ground on C$3.25bn Canada potash project

20 June 2012 15:52  [Source: ICIS news]

K+S breaks ground on Canada potash projectTORONTO (ICIS)--K+S has officially broken ground at its Canadian dollar (C$) 3.25bn ($3.19bn) potash project in Canada’s Saskatchewan province, the Germany-based fertilizer firm said on Wednesday.

CEO Norbert Steiner said that the project will, in combination with K+S’ German potash mines, significantly strengthen the company’s international competitiveness.

The project is the first grassroots potash mine to be built in Saskatchewan in more than 40 years.

K+S expects to produce its first potash volumes at the mine by the end of 2015, with production to reach 2m tonnes/year by 2017.

In a second phase, production will gradually be expanded to 2.86m tonnes/year by 2023.

K+S’ C$3.25bn investment covers the project’s first two phases. In a subsequent third phase, total output could be expanded to 4m tonnes/year by 2033, the Kassel-based firm added.

($1 = C$1.02)


By: Stefan Baumgarten
+1 713 525 2653



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