Vancouver — Canpotex Limited on March 20 signed a contract with Sinofert Holdings Limited to supply 500,000 mt of potash in the second quarter of calendar 2012. The new contract includes an option to increase this tonnage by an additional 200,000 mt for delivery during that same period. Pricing is unchanged from the previous second-half 2011 contract. The contract is the third concluded under the three-year Memorandum of Understanding signed with Sinofert in October 2010. Steven Dechka, Canpotex’s president and CEO, said this latest contract demonstrates the continued confidence Sinofert has in Canpotex’s ability to meet the growing needs for potash in the important China market. Sinofert is China’s largest integrated agricultural company and a long-term business partner of Canpotex. Belarusian Potash Co. (BPC) the joint venture trader of Uralkali and Belaruskali, also announced that it has agreed to a contract with Sinochem and CNAMPGC for 400,000 mt of potash in the second quarter – with an option for an additional 100,000 mt – at a price of $470/mt CFR. The contract is valid from April 1 to June 30, Uralkali said in a statement.
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