ROCANVILLE, Saskatchewan Already the world's lowest cost potash producer, the Rocanville mine belonging to POTASH CORP. OF SASKATCHEWAN will benefit from an investment of US$80 million to boost output and further lower unit costs. The decision follows a commitment by the provincial government to modify its resource tax and further simplify the tax structure over the next two years.
PotashCorp said the money will go toward increasing output by 400,000 tonnes/year, reaching a total of 1.5 million t/y by the first quarter of 2005. The expansion will create over 320 person/years of employment during construction.
The Rocanville mine and plant produce a compacted granular potash product, which commands a premium price in the market. It is also the fastest-growing market segment, particularly offshore markets in Brazil.
PotashCorp is a Saskatoon-based company and the largest potash producer in the world. Besides its fertilizer segment, the company has business interests in animal nutrition and industrial chemicals.