Saskatchewan premier says potash merger ‘looks quite positive’ for the province

Premier Brad Wall says the merger of Potash Corp. of Saskatchewan and Agrium looks good for Saskatchewan’s interests.

The deal brings together Saskatoon-based PotashCorp’s huge fertilizer mining operations — the world’s largest by capacity — with Calgary-based Agrium’s extensive global direct-to-farmer retail network.

READ MORE: PotashCorp and Agrium agree to merge in US$36 billion deal

The deal still has to go through regulatory and Competition Bureau approvals, but Wall says a new company would compete well globally.

The premier also likes that head office would remain in Saskatoon.

Wall says the government will be watching carefully when it comes to operations and jobs, but he adds that “there’s reason to be quite positive” about the province’s position in the short and long terms.

WATCH: Concerns about PotashCorp, Agrium mega-merger

2:27 Concerns about PotashCorp, Agrium mega-merger

Saskatchewan’s Opposition New Democrats are raising concerns about a potential loss of jobs, a loss of influence over the natural resource and about the impact on farmers.

“Even with a registration of the head office in Saskatchewan, there’s no ironclad guarantee protecting the jobs, the revenues and the influence of our resource,” NDP Leader Trent Wotherspoon said Monday.

Wall said he has had several discussions with the CEOs of PotashCorp and Agrium to talk about jobs, taxes and the economic impact on the province.

“What’s good for those companies, by and large, in terms of their workforce and in terms of their investment, can also be good for Saskatchewan’s economy,” the premier said at the legislature.

The deal would create a global agricultural giant worth an estimated US$36 billion. The new firm would have close to 20,000 employees and would operate in 18 countries.