Fertilizer Canada is complaining that the Saskatchewan government did not consult it before increasing taxes on potash miners.
The biggest member of Fertilizer Canada is Nutrien which is both the world’s largest potash mining company and fertilizer retailer after Potash Corp. of Saskatchewan merged with Agrium.
“These changes will have significant impacts on the business operations of our members and creates uncertainty,” Fertilizer Canada said in a news release.
"This is not the way to treat the potash industry, which continues to contribute so much to the Saskatchewan economy," said Garth Whyte, president and chief executive officer of Fertilizer Canada.
The news release said “this surprise $117 million tax announcement is very disappointing.”
Whyte said "massive job-creating investments have been made over the past decade in Saskatchewan.
"While it is unclear exactly how much additional taxes our members will now be subject to, it does create uncertainty for any future investments."
Fertilizer Canada said “these changes will result in Saskatchewan potash production being subject to the highest royalty and tax rates in the world.”
So what will the Saskatchewan government do with the money? Maybe invest in education and health care, which is a lot better value for money than a sliver of Nutrien profits.
