20 June 2012 15:52 [Source: ICIS news]
TORONTO (ICIS)--K+S has officially broken ground at its Canadian dollar (C$) 3.25bn ($3.19bn) potash project in ?xml:namespace>
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
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)
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