SASKATOON, July 11, 2013 /PRNewswire/ - K+S Potash Canada
and Canadian Pacific yesterday signed an exclusive long-term
volume-based contract on the transportation of potash products from
K+S' Legacy Site. The contract is for potash to be moved from the
Legacy Site, near Moose Jaw and
Regina in Saskatchewan, to a Western Canadian port of
export for overseas destinations and via CP's extensive network to
domestic Canadian and US markets. The contract was signed in
K+S Potash Canada's headquarters in Saskatoon.
"We are glad to have found Canadian Pacific as the perfect
partner and strategic fit for our transportation needs in
Canada. Canadian Pacific offers an
excellent logistics service and we are looking forward to this
long-term partnership", says Dr. Ulrich
Lamp, President and Chief Executive Officer of K+S Potash
Canada.
"Canadian Pacific is extremely pleased to be a partner with K+S
Potash Canada in providing the capability to move potash to market
via our rail-direct network," said CP President and Chief Operating
Officer, Keith Creel. "The capacity,
flexibility and market access of CP's network on our Western
corridor, as well as efficient route options into the United States, ensures a growth
opportunity for both companies."
K+S Potash Canada and Canadian Pacific are forming a
longstanding partnership to ensure that the transport of product
from the Legacy site to clients is both secure and competitive.
Production from the mine is planned for the summer of 2016. In
order to accommodate the transportation needs of the Legacy site,
Canadian Pacific will be building an exclusive rail spur to provide
access to K+S Potash Canada's Legacy Site. Canadian Pacific
also offers competitive opportunities in existing and identified
markets for K+S Potash Canada.
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in
Canada and the United States with direct links to eight
major ports, including Vancouver
and Montreal, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is a low-cost provider
that is growing with its customers, offering a suite of freight
transportation services, logistics solutions and supply chain
expertise. Visit cpr.ca to see the rail advantages of Canadian
Pacific.
About the Legacy Project
K+S is putting its more than one hundred years of mining experience
and world-class expertise to work on the Legacy Project potash mine
and production facility near Moose
Jaw. It will be the first new greenfield potash mine built
in Saskatchewan in nearly forty
years. In the first two expansion phases of the new potash site,
K+S will invest a total of 4.1 billion
Canadian dollars. Production from the mine is targeted for
the summer of 2016, reaching the two-million-tonnes mark of
production capacity at the end of 2017. The Legacy Project will
offer new job opportunities for Saskatchewan workers, and new business
opportunities for Saskatchewan
companies supplying goods and services to this important economic
development. K+S is growing Saskatchewan, while providing the potash that
is needed to help feed a growing world population. More information
at www.ks-potashcanada.com.
About K+S
K+S Potash Canada GP is part of the K+S Group, one of the world's
leading suppliers of standard and specialty fertilizers. In the
salt business, K+S is the world's leading producer with sites in
Europe as well as North and
South America. K+S offers a
comprehensive range of goods and services for agriculture,
industry, and private consumers, which provides growth
opportunities in virtually every sphere of daily life. The K+S
Group employs more than 14,000 people worldwide. More information
about K+S at www.k-plus-s.com.
SOURCE Canadian Pacific