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Author: Starrob Big funky green star, 20000 posts Top Favorite Fools Old School Fool Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 47  
Subject: No new potash mines for 5 years Date: 7/10/2012 12:42 PM
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"WINNIPEG, Manitoba, June 27 (Reuters) - Canada's Potash Corp of Saskatchewan , the world's biggest maker of fertilizer, doesn't expect to see any new potash mines start production over the next five years, Chief Executive Bill Doyle said on Wednesday.

"This business is real easy to talk about - it's much harder to do," Doyle said in a webcast during which he fielded submitted questions. "There are no greenfield projects coming on in the next five years, between now and 2017, none."

Several companies are planning new mines for potash, a crop nutrient, in Potash Corp's home base of Saskatchewan in Western Canada, led by Anglo-Australian miner BHP Billiton and Germany's K+S AG.

But Doyle said it takes an "enormous amount of time" to develop a new potash mine and downplayed predictions of excess potash production capacity."

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