New contract will see company supply 500,000 tonnes of potash in the second quarter of 2012
SASKATOON: Canpotex Limited has inked a contract with Sinofert Holdings Limited to supply 500,000 tonnes of potash in the second quarter of calendar 2012. The contract includes an option to increase this tonnage by an additional 200,000 tonnes 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 Chief Executive Officer, 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.