REGINA – The Mosaic Company is continuing plans to expand its potash business in Saskatchewan. The company committed an additional $1.7 billion to further develop its K3 potash mine at Esterhazy.
“Mosaic is committed to the growth, efficiency and sustainability of our potash operations here in Saskatchewan,” said Walt Precourt, senior vice-president of potash at Mosaic.
“This is our home and we continue to invest both in our communities and our business.”
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The K3 project was originally announced in 2009, with a $1.5 billion investment as part of the company’s long-term potash strategy.
Mosaic expects an average of 300 skilled trades people to be employed at the site as the company accelerates the production ramp-up of the mine. As many as 600 workers could be on-site during peak construction.
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Premier Brad Wall said the announcement shows the diversification of Saskatchewan’s economy, with many sectors showing strong growth despite the downturn in oil prices.
Mosaic says production at the new site is expected to start by late 2017 and will serve as a satellite mine for the milling and storage facilities upgrade during its Esterhazy stage one expansion efforts.
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