Canpotex nixes plan for potash terminal in Prince Rupert

Canpotex, an exclusive offshore marketing company for potash mined in Saskatchewan by Agrium (TSX: AGU; AGY: NYSE), Mosaic (NYSE: MOS) and Potash Corp. of Saskatchewan (TSX: POT; NYSE: POT), has abandoned plans to build a $775 million potash export terminal in Prince Rupert, BC, after nearly a decade of consideration. Ken Seitz, president and CEO of Canpotex tells The Northern Miner that the company’s export terminals located in Vancouver, BC, Saint John, NB, and Portland, OR, provide enough terminal capacity to meet the potash trader’s needs. “Over the years, all the work we’ve done at Prince Rupert has been in preparation to decide whether we should charge forward and build the facility, he says in an interview. “But when we weighed all of our options from a strategic, cost and commercial perspective, we concluded that the facility was not our preferred option.” Read the entire story at www.NorthernMiner.com/commodities-markets/canpotex