PotashCorp Plans Another Expansion

Potash Corp. of Saskatchewan, the world's largest producer of the fertilizer potash, plans to spend $1.8 billion to build a 2 million-metric-ton-per-year potash mine at its Rocanville, Saskatchewan, site. The company says the project will be completed in five years. Combined with three other potash expansions already announced this year, the company says the Rocanville project will raise its capacity to 15.7 million metric tons by the end of 2012, from 10.7 million metric tons today. PotashCorp CEO William J. Doyle says a rising population and increased economic strength in Asia and Latin America are creating long-term demand for potash that is "unlikely to reverse."