Canpotex Announces Long-term Supply Agreement

Canpotex Limited today announced the signing of a new three-year agreement to supply Tata Chemicals Ltd. (TCL), a key customer in India, with a minimum of 1.5 million metric tons of Saskatchewan potash. The multi-year agreement between Canpotex and TCL covers the period April 1, 2011 to March 31, 2014, and provides TCL with the option to extend the agreement for an additional two years to March 31, 2016. In the event the agreement is extended, the supply to TCL could total a minimum of 2.88 million metric tons. Pricing will be at competitive rates based on prevailing market conditions. Canpotex is the exclusive offshore marketing company owned by the three Saskatchewan potash producing companies: Agrium Inc. AGU, Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company MOS, and Potash Corporation of Saskatchewan Inc. POT.