Saskatoon — Canpotex Terminals Ltd. announced that it has now received all required government environmental permits for its proposed potash export terminal at Prince Rupert and has signed a lease agreement with the Prince Rupert Port Authority (PRPA). Canpotex said the execution of the lease agreement is an interim step in the development of Canpotex’s proposed greenfield potash terminal on Ridley Island. Canpotex will make a final investment decision to proceed based on a variety of commercial factors, including construction costs and offshore potash market projections. No date has been set for making this decision. If a decision is made to proceed, the Potash Export Terminal investment would be approximately C$775 million, and would provide Canpotex with three separate gateways and rail corridors to the West Coast. Canpotex has invested approximately C$50 million to date in the proposed project, which includes C$15 million towards the PRPA’s Road Rail Utility Corridor.
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