K+S approves first potash mine in Saskatchewan in 40 years
Saskatchewan's first potash mine in 40 years was approved today in the small city of Moose Jaw. German potash producer K+S Aktiengesellschaft said its supervisory board approved CAD$3.25 billion in capital expenditures to build a solution potash mine at the Legacy property, which K+S acquired from Potash One when it bought the company for $434 million nearly one year ago to the date.
"The Legacy Project is a significant step towards the expansion of our potash capacities and enables us to participate in the growth of the global potash market. Together with our existing potash mines in Germany, this will considerably strengthen the international competitiveness of K+S and consequently benefit the entire K+S Group in Europe and overseas,” said Norbert Steiner, K+S Chairman of the Board of Executive Directors.