Canpotex Ltd. says it has a new three-year memorandum of
understanding to sell Sinochem Fertilizer Macao Commercial Offshore Ltd. of
China 1.9 million tonnes of red standard grade potash and up to 2.4 million
tonnes of other grades of potash.
Canpotex is a government-approved export company for
Potash Corporation of Saskatchewan, Agrium and Mosaic. The three have a virtual
monopoly on potash mining in Saskatchewan.
Pricing will be negotiated every six months (January to
June and July to December), based on market conditions, according to Canpotex.
The agreement is from this month to the end of 2017.
